Bride, Edward James v Australian Securities Commission & Anor [1997] FCA 213

Bride, Edward James v Australian Securities Commission & Anor [1997] FCA 213

Claims against a registered liquidator's security bond under s.1284 of the Corporations Law and reg.9.2.05(1) of the Corporations Regulations are limited to the liquidator's conduct in the capacity as a liquidator of companies to which he or she had been appointed as such, and do not extend to conduct as receiver or as a 'de facto liquidator' without formal appointment.

Jurisdiction
Australia
Judgment Date
08 April 1997
Procedural Posture
Appeal From the Administrative Appeals Tribunal / Final Judgment
Outcome
appeal dismissed
Legal Topics
['registered Liquidator' 'security Bond' 'scope of Security Bond' 'duties as Liquidator' 'de Facto Liquidator']
['corporations Law'] ['registered Liquidator' 'security Bond' 'scope of Security Bond' 'duties as Liquidator' 'de Facto Liquidator']

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Procedural Posture

Appeal From the Administrative Appeals Tribunal / Final Judgment

Legal Issues

  1. 1 ["Whether the security bond lodged by a registered liquidator is available to satisfy claims relating to conduct as a 'de facto liquidator' of a company to which the person was never formally appointed as liquidator"]

Ratio Decidendi

Claims against a registered liquidator's security bond under s.1284 of the Corporations Law and reg.9.2.05(1) of the Corporations Regulations are limited to the liquidator's conduct in the capacity as a liquidator of companies to which he or she had been appointed as such, and do not extend to conduct as receiver or as a 'de facto liquidator' without formal appointment.

Court Disposition

appeal dismissed

Orders

  • ['The appeal be dismissed.' "The applicant pay the first respondent's costs, to include the costs of the directions hearing on 17 September 1996."]