Statutory causes of action for damages under s 12GF of the ASIC Act, s 1041I of the Corporations Act, and ss 82 and 87 of the Trade Practices Act are bare rights to litigate that cannot be assigned by a liquidator under s 477(2)(c) of the Corporations Act. The power to sell 'property of the company' under s 477(2)(c) does not expand the class of assignable property to include causes of action that are not otherwise assignable at law. A valid assignment must be established on the balance of probabilities as a threshold condition before the discretionary power under r 9.09(2)(a) of the Victorian Rules is enlivened. Part 2F.1A of the Corporations Act (statutory derivative actions) does not apply to a company in liquidation.
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