In Oswal v Burrup Holdings Limited [2011] FCA 609 the Federal Court of Australia considered the rights of a company director to access company books and documents after the company has been placed in receivership.

After considering the general law, specific Corporations Act provisions and the need for access not to affect the proper administration of a company in receivership the director was given limited rights of access to specific classes of documents.

Access was also made conditional on the director filing a written undertaking personally signed by him to meet the reasonable expenses of the company in making the documents available for inspection or providing copies thereof, which undertaking be secured by way of a payment of $50,000 into the trust account of the director’s solicitors.