Recent Cases

Masters v Lombe (liquidator), in the matter of Babcock and Brown Limited (in liq) [2021] FCAFC 161 (03 September 2021) (Middleton, Beach and Colvin JJ)


CORPORATIONS – continuous disclosure obligations under s 674 of Corporations Act 2001 (Cth) – application of ASX listing rules 3.1 and 3.1A – non-disclosure of material information – shareholders’ claims for damages under s 1317HA of Corporations Act – debts or claims provable in winding up – rejection of proofs of debt – appeals to the primary judge from rejection of proofs of debt – whether trial judge erred in making findings of non-contravention of s 674 – whether contraventions, if made, would have caused share price inflation – applicability of market based causation – no proof of contraventions – no proof of loss – appeals dismissed