Federal Court of Australia
. CATCHWORDS TRADE PRACTICES - two competing takeover bids - application by
Trade Practices Commission pursuant to s.50 of Trade Practices Act 1974 in relation to second bid - undertakings given by target company and both bidding companies not to deal in shares of target company - action ready for trial after three months of preparation - lengthy hearing anticipated ~ application by target company for release from undertakings to permit sale of shares to first bidder ~ first bidder not a party to this action but not a stranger to it either - validity of undertakings - factors relevant to exercise
of discretion.
" PRACTICE AND PROCEDURE - undertakings given in one action by and
concerning party in related action - validity of undertakings.
Trade Practices Act 1974 ss.50, and 81.
TRADE PRACTICES COMMISSION v A.P.M. INVESTMENTS PTY. LIMITED
and FIBRE CONTAINERS LTD. and Ors.
No. VG 84 of 1983
Woodward J. Melbourne 22 August 1983
IN THE FEDERAL COURT OF AUSTRALIA
) ) VICTORIA DISTRICT REGISTRY ) No. VG ) )
GENERAL DIVISION
BETWEEN:
TRADE PRACTICES COMMISSION
and A.P.M. INVESTMENTS PTY. LIMITED First FIBRE CONTAINERS LIMITED Second LEIGH-MARDON PTY. LIMITED Third ASSOCIATED NOMINEES PTY. LIMITED Fourth FRANCIS JAMES BURKE Fifth PETER BECKER Sixth WILLIAM GIBSON Seventh
and JOHN FRANCIS ELFVERSON Eighth
Fifth to Eighth Respondents as Trustees for LEIGH-MARDON PTY. LIMITED
and ARTHUR KEVIN SMITH Ninth
ORDER
JUDGE MAKING ORDER: Woodward J.
DATE OR ORDER: WHERE MADE:
24 August 1983 ° Melbourne
84 of 1983
Applicant
Respondent Respondent Respondent Respondent Respondent Respondent
Respondent
Respondent
Respondent
UPON the following undertaking being given by the Third to Eighth
Respondents:-
That until the determination of these proceedings or further order they will not sell to or accept any offer from A.P.M.
Investments Pty. Limited ("APM") (or any related corporation ef APM) to purchase any shares held by them or on their
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