CORPORATIONS – meaning of debenture in s 9 of the Corporations Act 2001 (Cth) – where respondent operated a digital currency exchange through which customers could buy and sell certain cryptocurrencies – where respondent also offered a Finder application (Finder App) on mobile device platforms through which its customers could, amongst other things, access the “Finder Earn” product – where by investing in the Finder Earn product customers could exchange funds in their account to obtain “TrueAUD” stablecoins ownership of which was transferred to the respondent enabling the customer to earn a “return” quantified in TrueAUD which upon expiry of the term was credited to the customer’s Finder Wallet account in AUD – where primary judge held the respondent’s “Finder Earn” product was not a debenture on the basis that there was no money “deposited with or lent to” the respondent or in the alternative that there was no undertaking by the company to repay as a debt that money
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Commonwealth Director of Public Prosecutions v Forrest [2026] FCA 14
CRIMINAL LAW – sentencing – where offender charged with two rolled up insider trading offences contrary to ss 1043A(1) and 1311(1) of the Corporations Act 2001 (Cth) – where offender pleaded guilty to all charges at an early stage – where offender did not give oral evidence at sentence hearing – HELD: sentence of six years…
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DC Rd DC Pty Ltd v Zhang (Trial Judgment) [2026] FCA 16
EQUITY – application for equitable relief and personal remedies for breaches of fiduciary duties – where applicant relied on respondents (property developers and an accountant) identifying and proposing properties to be purchased on applicants’ behalf – where respondents informed applicants that property would be purchased in applicant-company’s name for $45m – where respondents fashioned a…
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First Class Securities Limited v Global Future Holdings Pty Ltd [2026] FCA 1
PRACTICE AND PROCEDURE – urgent ex parte application for freezing orders under r 7.32 of the Federal Court Rules 2011 (Cth) – consideration of applicable principles – consideration of suspicious, irregular and unusual explanations for the non-repayment of an acknowledged debt of USD $7.5 million – orders made
