Moore, as Debtor-in-Possession of Australian Equity Investors v Australian Equity Investors

In the matter of Moore, as Debtor-in-Possession of Australian Equity Investors v Australian Equity Investors, the Federal Court of Australia was tasked with determining the applicability of the Cross-Border Insolvency Act 2008 (Cth) and the UNCITRAL Model Law on Cross-Border Insolvency to recognise foreign insolvency proceedings. The central issue before the court was whether the proceedings in the United States Bankruptcy Court, District of Arizona, should be recognised as foreign main proceedings for the purposes of the Act.

The court was required to decide whether the presumption that the debtor's centre of main interests is the place of its registered office can be rebutted and the extent to which creditors' perceptions and the permanence of the centre of main interests are relevant. The application for recognition was based on the premise that the debtor's centre of main interests was in Arizona, USA, despite the debtor's Australian registration. The court found that the presumption of the debtor's centre of main interests being its registered office in Australia was rebutted by evidence of the debtor's significant and ongoing business activities in Arizona. The court held that the permanence and substantiality of the debtor's activities in Arizona established it as the debtor's centre of main interests, thus warranting recognition of the US proceedings as foreign main proceedings. The court granted the applications for recognition and ordered the necessary notices and publication requirements to be met by the applicants.

The orders of the court included the recognition of the US proceedings as foreign main proceedings, the liberty for parties and creditors to apply on short notice, and the imposition of specific notice and publication requirements on the applicants. The court also ruled that the applicants were not required to serve a copy of the originating process and accompanying documents in accordance with rule 2.7(1) of the Federal Court (Corporations) Rules 2000. Finally, the court ordered that Colliers International (NSW) Pty Limited pay certain costs of the applicants.