Gull Petroleum (W.A.) Pty Ltd v Povey Corporation Ltd & Ors [1987] FCA 706

,

a

"JUDGMENT io, 7O 67..&.t.

TRADE PRACTICES - misleading and deceptive conduct - acquisition by publicly listed company of another company's assets - agreement concluded - settlement not proceeded with - purchasers advise Stock Exchange by letter of non-acquisition - letter alleges misrepresentation by vendor inducing agreement ~ allegation said to constitute misleading and deceptive conduct - urgent claim for interlocutory relief against purchasers and Stock Exchange -

serious question to be tried - short term injunction granted.

Trade Practices Act 1974 s.80, s.52

GULL PETROLEUM (W.A.) PTY LTD as Trustee for THE GULL TRADING UNIT TRUST v POVEY CORPORATION LIMITED and ST ANDREW PROPERTY HOLDINGS

PTY LTD and THE AUSTRALIAN STOCK EXCHANGE (PERTH) LIMITED NO. WAG 103 of 1987

FRENCH J. PERTH 18 SEPTEMBER 1987

"

FT * ERPS TR

IN THE FEDERAL COURT ) OF AUSTRALIA ) WESTERN AUSTRALIA ) DISTRICT REGISTRY

GENERAL DIVISION No. WAG 103 of 1987

BETWEEN: GULL PRETROLFUM (W.A.) PTY LTD as Trustee for THE GULL TRADING UNIT TRUST Applicant and

POVEY CORPORATION LIMITED and ST ANDREW PROPERTY HOLDINGS PTY LTD

First Respondents and

THE AUSTRALIAN STOCK EXCHANGE (PERTH) LIMITED

Second Respondent

MINUTE OF ORDER

JUDGE MAKING ORDER: FRENCH J. DATE OF ORDER: 18 SEPTEMBER 1987

WHERE MADE: PERTH

THE COURT ORDERS THAT:

Upon the Applicant undertaking to pay to any party adversely

affected by any interlocutory injunction granted in favour of the

Applicant such compensation (if any) as the Court thinks just, in

such manner as the Court directs:-

1. The Respondents be and are hereby restrained until 4.30 pm on Monday 21 September 1987 or further order from

doing all or any of the following and/or any of them:-

2.

(a) further publication of the letter from the First Respondents' solicitors to the Second Respondent of 17 September 1987, a copy of which forms annexure