Coventry v Charter Pacific Corporation Ltd

HIGH COURT OF AUSTRALIAGLEESON CJ,GUMMOW, KIRBY, HAYNE AND CALLINAN JJMICHAEL JOHN COVENTRY AND LYNETTE HELEN COVENTRY (AS TRUSTEES OF THE MIKE AND LYN COVENTRY FAMILY TRUST) & ANOR   APPELLANTSANDCHARTER PACIFIC CORPORATION LIMITED & ANOR  RESPONDENTSCoventry v Charter Pacific Corporation Limited [2005] HCA 6715 November 2005B68/2004ORDER1.        Appeal of the first appellant dismissed for want of prosecution.2.        Appeal of the second appellant dismissed with costs.On appeal from the Supreme Court of QueenslandRepresentation:No appearance for the first appellantM M Stewart SC with C A Wilkins for the second appellant (instructed by McMahons)D F Jackson QC with N J Owens for the first respondent (instructed by Allens Arthur Robinson)No appearance for the second respondentNotice:  This copy of the Court's Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.CATCHWORDSCoventry v Charter Pacific Corporation LimitedBankruptcy – Provable debt – Appellants acted in breach of s 995(2) Corporations Law (Q) by engaging in misleading and deceptive conduct in securities dealings – Respondent thereby induced to enter contractual relations with a third party – Whether respondent's claim for unliquidated damages under s 1005 Corporations Law (Q) arose otherwise than by reason of a contract, promise or breach of trust – Whether, pursuant to s 82(2) Bankruptcy Act 1966 (Cth), the respondent's claim for unliquidated damages constituted a debt provable in the bankruptcy of appellants.Words and phrases – "demand in the nature of unliquidated damages", "provable debt", "set-off", "contract, promise or breach of trust".Bankruptcy Act 1966 (Cth), ss 82(2), 86(1).Corporations Law (Q),...