Foxman v Credex National Australian Trade Exchange Pty Ltd (in liq)

Foxman, a creditor, sought to have summonses for examination set aside, arguing that the liquidator's investigation into the affairs of Credex National Australian Trade Exchange Pty Ltd, a deregistered company, was improper. The dispute was heard in the Federal Court of Australia. The legal issues before the court included whether the summonses related to "examinable affairs" and whether they were sought for an improper purpose.

The court found that the liquidator's investigation into whether claims against the company may have arisen before or after deregistration was within the legitimate scope of examinations under sections 596A and 596B of the Corporations Act 2001 (Cth). The court held that the operation of Part 5A.1 of the Corporations Act does not necessarily result in no person acquiring any rights against, or becoming subject to any liability to, the company during the period of deregistration. The court also determined that there was no basis for restricting creditors' access to written records of examination under section 597 of the Corporations Act.

The court dismissed the application to set aside the summonses for examination and restrained Foxman from accessing the records of the examination. The court held that the liquidator's investigation was valid and that the statutory regime entitled creditors of the company to access written records of examination. The court further found that there was no merit in Foxman's application to restrain another creditor from accessing the records of the examination.