Anchorage Capital Partners Pty Limited v ACPA Pty Ltd & Anor

Anchorage Capital Partners Pty Limited (the applicant) sought leave to appeal to the High Court of Australia against a decision of the Full Federal Court. The dispute concerned the interpretation and application of section 471.15 of the Corporations Act 2001 (Cth), which deals with the circumstances in which a company in liquidation may be sued. The applicant, as liquidator of a company, sought to strike out proceedings commenced against the company by ACPA Pty Ltd and another party (the respondents).

The primary legal issue before the High Court was whether the respondents had obtained the necessary leave from the court to commence or continue proceedings against the company, which was in liquidation, as required by section 471.15 of the Corporations Act. This involved determining whether the proceedings fell within any of the exceptions to the general rule that leave is required, specifically whether the proceedings were commenced or continued for the purpose of the company's liquidation.

The High Court granted leave to appeal and, in its joint judgment, held that the proceedings commenced by the respondents were not for the purpose of the company's liquidation. Their Honours reasoned that the respondents were seeking to enforce a judgment against the company, which was a separate purpose from the winding up of the company's affairs. Accordingly, the respondents were required to obtain leave under section 471.15 of the Corporations Act before commencing their proceedings. The High Court therefore allowed the appeal and set aside the orders of the Full Federal Court.