Yeo and Rambaldi (as liquidators), in the matter of Rennie Produce (Aust) Pty Ltd (in liquidation) (No 3) [2017] FCA 442

Yeo and Rambaldi (as liquidators), in the matter of Rennie Produce (Aust) Pty Ltd (in liquidation) (No 3) [2017] FCA 442

The orders under s 597(9) were warranted because the documents sought from the foreign financial institutions were relevant to the liquidators' examinations and would assist in identifying the quantum and whereabouts of offshore funds that may have been transferred by entities related to RPA and not repatriated, which funds would be assets of RPA in liquidation under the Deed of Settlement.

Jurisdiction
Australia
Judgment Date
28 April 2017
Procedural Posture
Application for Orders Under S 597(9) of the Corporations Act 2001 (cth) for Production of Documents by Foreign Financial Institutions and Extension of Time for Compliance With Previous Orders / Determined on the Papers; Orders Made
Outcome
Application granted; orders sought by the applicants made, including extension of time.
Legal Topics
['production of Documents by Foreign Financial Entities' "liquidators' Investigations" 'section 597(9) Examinations' 'offshore Bank Accounts' 'extension of Time for Compliance With Court Orders']
['practice and Procedure' 'corporations Law' 'corporate Insolvency'] ['production of Documents by Foreign Financial Entities' "liquidators' Investigations" 'section 597(9) Examinations' 'offshore Bank Accounts' 'extension of Time for Compliance With Court Orders']

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Procedural Posture

Application for Orders Under S 597(9) of the Corporations Act 2001 (cth) for Production of Documents by Foreign Financial Institutions and Extension of Time for Compliance With Previous Orders / Determined on the Papers; Orders Made

Legal Issues

  1. 1 ['Whether the Court should make orders under s 597(9) of the Corporations Act 2001 (Cth) requiring overseas financial institutions to produce documents to the Federal Court of Australia.' 'Whether the applicants should have leave to uplift, inspect and copy documents produced pursuant to the orders.' 'Whether time should be extended for certain overseas financial institutions to comply with previous orders of the Court.']

Ratio Decidendi

The orders under s 597(9) were warranted because the documents sought from the foreign financial institutions were relevant to the liquidators' examinations and would assist in identifying the quantum and whereabouts of offshore funds that may have been transferred by entities related to RPA and not repatriated, which funds would be assets of RPA in liquidation under the Deed of Settlement.

Court Disposition

Application granted; orders sought by the applicants made, including extension of time.

Orders

  • ['Mizrahi Tefahot Bank was ordered under s 597(9) of the Corporations Act 2001 (Cth) to produce specified account documents to the Federal Court of Australia by 10.00 a.m. on 31 July 2017.' 'Deutsche Bank (Switzerland) Ltd was ordered under s 597(9) of the Corporations Act 2001 (Cth) to produce specified account...