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
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Haycraft v AF1 Services Pty Ltd [2023] FCA 774
CORPORATIONS – application for winding up of a company on just and equitable grounds under s 461(1)(k) of the Corporations Act 2001 (Cth) – where directors of the company disagree on aspects of the conduct of the business – where relevant business is profitable, solvent and has many employees – applicable principles to just and…
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Howden v Australian Securities and Investments Commission [2023] FCA 907
PRACTICE AND PROCEDURE – application for stay of disqualification order, order requiring payment of a pecuniary penalty and costs order pending appeal – application dismissed
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Naturally Australian Tea Tree Oil Pty Ltd v Jellyman [2024] FCA 625
CORPORATIONS LAW — application to set aside statutory demand – whether genuine dispute within meaning of s 459H Corporations Act 2001 (Cth) – relevant principles – company alleged breach of fiduciary duties, unconscionable conduct and duress on part of defendant – defendant previously director and company solicitor of plaintiff
