The Matrix of a Liquidator’s Examination – Affidavit Disclosure and Other Issues

Introduction

In the case Sutherland v Pascoe; in the matter of Matrix Group Limited (no. 2) [2012] FCA 1361, the Federal Court of Australia provided some helpful guidance for liquidators in relation to the required level of disclosure for affidavits in support of applications for the issue of examination summonses pursuant to Section 596B of the Corporations Act 2001 (Cth) (the Act).

The Court also confirmed certain matters about the characterisation of proceedings brought pursuant to s1324 of the Act, and the necessary distinction between the purpose of a litigation funder and a liquidator seeking to discharge his duties.

Background

The liquidation of Matrix Group Limited (Matrix) was ordered in February 2008.