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
Related cases about corporate law
-
Torc Solutions Pty Ltd v Unex Corporation doing business as Hytorc [2025] FCA 1124
CONTRACTS – formation – where applicant and second respondent were parties to a Distributor Agreement – where closure of the second respondent announced – where applicant and first respondent executed a Branded Product Distribution Agreement – where applicant alleged that applicant and first respondent made an alternative agreement or that such agreement could be inferred…
-
3D Access Pty Ltd v Buzasi [2025] FCA 1105
PRACTICE AND PROCEDURE – interlocutory application for urgent injunctive relief and freezing orders – where first respondent a former employee, director and shareholder of first applicant – where employment contract contained restraint clause prohibiting post-employment solicitation of or interference with clients – where first respondent’s notice of departure as a shareholder given under exit agreement…
-
PSC AMGI WSC Pty Ltd v J&P Capital Insurance Pty Ltd [2025] FCA 1057
CONTRACTS – deed of settlement – competing applications for orders to give effect to terms of deed – where deed provided for one party to transfer certain assets no later than 7 days after the date of deed and the other party to pay the settlement sum of $80,000 no later than 7 days after transfer of…
