Is this referral affecting your impartiality? Federal Court backs ASIC in Walton wind-up

By Michael Hughes

In February, we reported on the decision of Justice Davies in the Federal Court of Australia refusing the Australian Securities and Investments Commission’s (ASIC’s) application to remove liquidators appointed to two companies, after the voluntary administration had been referred to them by the Mawson Group.

ASIC argued that, given Mawson’s prior involvement in a number of pre-appointment transactions said to amount to Phoenix company activity, and a ‘referral relationship’ they had with the liquidators’ firm, there was a reasonable apprehension of bias sufficient to warrant their removal as liquidators.

ASIC also sought a declaration from the court that the liquidators had breached section 436DA of the act by failing to disclose in their Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) that the pre-administration transactions involving Mawson may need to be investigated by the liquidators…

Click on the link below to read the rest of the Minter Ellison briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.


Level 40, Governor Macquarie Tower
1 Farrer Place

Jurisdiction: Australia
No. of offices: 14
No. of qualified lawyers: 1085