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
-
Neve v LVMH Perfume & Cosmetics Group Pty Limited (Suppression Order) [2026] FCA 108
PRACTICE AND PROCEDURE – application for suppression and non-publication orders – where matter referred to mediation yet to occur – where non-parties sought access documents on the Court file – whether suppression and non-publication orders necessary to prevent prejudice to the proper administration of justice
-
Australian Securities and Investments Commission v FIIG Securities Limited [2026] FCA 92
CORPORATIONS – Financial services licence – ASIC sought declaration under s 1317E(1) of the Corporations Act 2001 (Cth) (Corporations Act) in respect of admitted contraventions of s 912A of the Corporations Act – ASIC sought orders imposing a pecuniary penalty in an agreed sum – where defendant was subject to a cyber attack as a…
-
First Class Securities Limited v Global Future Holdings Pty Ltd (Freezing Orders) [2026] FCA 48
PRACTICE AND PROCEDURE – application for freezing orders pursuant to r 7.32 of the Federal Court Rules 2011 (Cth) – where ex parte freezing orders and asset disclosure orders have been made against the respondents – whether applicant has established good arguable case, risk of undermining the Court’s processes – whether balance of convenience favours…
