Huntley Management Limited v Australian Olives Limited [2009] FCA 664

Huntley Management Limited v Australian Olives Limited [2009] FCA 664

The matter should be stood over for orders rather than finally disposed of on the motion. Huntley's claim to Project 3 books based on s 601FR, its registered status and its present performance of responsible entity functions could be determined promptly, potentially by a separate question or on agreed facts. The same question would determine relief about Project 3 leases. AOL's motion should be dismissed insofar as it related to leases for Projects 1 and 2 because AOL conceded Huntley was the responsible entity for those projects. Relief concerning moneys representing "scheme property" would not be granted and the proceeding should be stayed in respect of that claim absent a definition of...

Jurisdiction
Australia
Judgment Date
05 June 2009
Procedural Posture
Federal Court Proceeding in the Matter of Australian Olives Limited Concerning Registered Managed Investment Schemes / Reasons and Orders on Defendant's Notice of Motion for Permanent Stay And/or Strike Out, or Alternatively a Stay Pending Other Proceedings
Outcome
The proceeding was stood over to 10 June 2009 for the making of orders, with costs of the motion for a stay or dismissal reserved.
Legal Topics
['registered Managed Investment Schemes' 'responsible Entity' 'change of Responsible Entity' 'delivery of Books and Records' 'transfer of Scheme Assets' 'management Fees' 'stay or Strike Out of Proceeding']
['corporations Law' 'civil Procedure'] ['registered Managed Investment Schemes' 'responsible Entity' 'change of Responsible Entity' 'delivery of Books and Records' 'transfer of Scheme Assets' 'management Fees' 'stay or Strike Out of Proceeding']

Case Brief

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Procedural Posture

Federal Court Proceeding in the Matter of Australian Olives Limited Concerning Registered Managed Investment Schemes / Reasons and Orders on Defendant's Notice of Motion for Permanent Stay And/or Strike Out, or Alternatively a Stay Pending Other Proceedings

Legal Issues

  1. 1 ['Whether the proceeding should be permanently stayed and/or struck out, or stayed pending determination of the Queensland Federal Court proceeding and the NSW District Court proceeding.' "Whether Huntley, as the company named in ASIC's record of registration as responsible entity of Project 3, had a present right under s 601FR of the Corporations Act 2001 (Cth) to delivery of books from AOL." 'Whether claims concerning transfer of leases for Projects 1, 2 and 3 should be stayed or allowed to proceed.' 'Whether relief concerning moneys representing "scheme property" should be granted or stayed in the absence of a definition of "scheme property".' 'Whether claims for fees paid by members of Projects 1, 2 and 3 should be stayed because of the NSW District Court proceeding concerning Projects 4, 5 and 6.']

Ratio Decidendi

The matter should be stood over for orders rather than finally disposed of on the motion. Huntley's claim to Project 3 books based on s 601FR, its registered status and its present performance of responsible entity functions could be determined promptly, potentially by a separate question or on agreed facts. The same question would determine relief about Project 3 leases. AOL's motion should be dismissed insofar as it related to leases for Projects 1 and 2 because AOL conceded Huntley was the responsible entity for those projects. Relief concerning moneys representing "scheme property" would not be granted and the proceeding should be stayed in respect of that claim absent a definition of...

Court Disposition

The proceeding was stood over to 10 June 2009 for the making of orders, with costs of the motion for a stay or dismissal reserved.

Orders

  • ['The proceeding be stood over to Wednesday 10 June 2009 at 9.30 am for the making of orders.' 'The parties confer with a view to bringing in short minutes on 10 June 2009 of the orders then to be made.' 'The costs of the motion for a stay or dismissal be reserved.']