James v Leighton Holdings Limited

Thomas James has applied to the Court for an order that the Australian Securities and Investments Commission (ASIC) reinstate the registration of Leighton Superannuation Proprietary Limited (the Company), pursuant to section 601AH(2) of the Corporations Act 2001 (Cth). The Company was deregistered on 17 May 2013. ASIC has indicated it will not oppose the application on the condition that three conditions are satisfied. The applicant has demonstrated that the first and third conditions can be met. The first respondent, Leighton Holdings Limited, which was the parent company of the Company, does not oppose the application other than in relation to the appropriate costs order.

The key issue for determination is whether the second condition, that the applicant notify former officeholders of the Company of the application, has been met. The applicant has provided evidence in the form of letters from the applicant’s solicitors to Carlos Mendes and Ashley Moir, dated 11 September 2011, notifying them of the application. There is no evidence of a response to those letters. The applicant has also provided evidence in the form of an ASIC historical extract that demonstrates that Messrs Mendes and Moir were the directors of the Company immediately prior to deregistration.

The Court is satisfied that the applicant has met the second condition. The letters from the applicant’s solicitors are sufficient evidence that the two former directors have been notified of the application. The Court is also satisfied that it is just that the Company’s registration be reinstated. In these circumstances, the Court makes the following order: That the Australian Securities and Investments Commission reinstate the registration of Leighton Superannuation Proprietary Limited in accordance with the order of the Court.