Summary judgment is inappropriate against directors defending indemnity claims under s 588FGA of the Corporations Act where the directors have filed detailed sworn evidence of their beliefs and expectations about solvency at each payment time, the financial position is complex, and there are genuine differences between the liquidators and directors about the treatment of assets. The assessment of directors' defences under s 588FGB must be compartmentalised to each payment time and must not impermissibly 'roll up' events across the whole relation-back period. The 'no real prospect' test in r 292 UCPR (Qld) conveys a different and lower threshold than the 'no reasonable prospect' test in s 31A of the Federal Court of Australia Act, and the High Court's elucidation of s 31A in Spencer v The Commonwealth does not particularly assist in identifying the approach to r 292.
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