Thomson Reuters understands that the taxpayers intend to appeal to the Full Federal Court against the decision of Gordon J in DCT v Cheung Kong Infrastructure Holdings Limited (No 2) [2013] FCA 885; DCT v Power Assets Holdings Limited (previously known as Hongkong Electric Holdings Ltd) (No 2) [2013] FCA 886. The Federal Court had entered judgment in default against the 2 Hong Kong based companies concerning outstanding tax and penalty liabilities totalling almost $800m for the 2000 to 2009 income years inclusive. The companies are infrastructure companies and conduct business in Australia. The Court found that both companies were in default of Orders issued by the Court, and that the Court should exercise its discretion and enter judgment for the Commissioner against the taxpayers. The Court also found that the taxpayers had failed to enter an address for service contrary to the Rules and the Orders of the Court.
[LTN 193, 4/10/13]