CKM (Mortgages) Limited v Australian Securities and Investment Commission, in the matter of Real Property Group Pty Limited

In this matter, CKM (Mortgages) Limited sought an order against the Australian Securities and Investment Commission (ASIC) to reinstate the registration of Real Property Group Pty Limited, a company previously deregistered. The dispute arose following the deregistration of Real Property Group Pty Limited, with CKM (Mortgages) Limited contending that ASIC's actions were erroneous or unjust. The court was tasked with determining the validity of ASIC's decision to deregister the company and whether reinstatement was warranted under the Corporations Act 2001 (Cth).

The court considered the legal principles surrounding the deregistration and potential reinstatement of a company. It examined the circumstances leading to the deregistration, whether ASIC had acted within its powers, and whether there were grounds to justify the reinstatement of the company’s registration. The court also assessed the impact of the deregistration on the company’s creditors and stakeholders, particularly CKM (Mortgages) Limited.

Upon reviewing the evidence and arguments presented, the court found that ASIC had acted without proper authority or justification in deregistering Real Property Group Pty Limited. The court concluded that the deregistration was improper, and the reinstatement of the company's registration was necessary to rectify the injustice caused. Consequently, the court ordered ASIC to reinstate the registration of Real Property Group Pty Limited and restore the previous liquidators to office. Additionally, the court ordered that ASIC's costs be paid by CKM (Mortgages) Limited and that all costs and expenses of the proceedings be treated as part of the company's winding-up costs.

In light of these findings, the court made specific orders, including the reinstatement of the company’s registration, the restoration of the liquidators, and the allocation of costs. A copy of these orders was to be served on a former director of the company, Mr. Ronnie Gedeon, to ensure proper notification and compliance.