Australian Securities Commission v Corplan Nominees Pty Ltd & Ors [1995] FCA 540

IN THE FEDERAL COURT OF AUSTRALIA)No QG 3007 of 1994 QUEENSLAND DISTRICT REGISTRY ) GENERAL DIVISION ) IN THE MATTER OF CORPLAN NOMINEES PTY. LTD. A.C.N. 010 178 784 BETWEEN: AUSTRALIAN SECURITIES COMMISSION Applicant AND: CORPLAN NOMINEES PTY. LTD. First Respondent AND: CYRIL JOHN PEARSON Second Respondent AND: CAMERON JAMES PEARSON Third Respondent AND: CORPLAN MARKETING PTY. LTD. Fourth Respondent AND: CORPLAN GROUP HOLDINGS PTY. LTD. Fifth Respondent AND: TFG MANAGEMENT LIMITED Sixth Respondent AND: PEARSON ASSOCIATES PTY. LTD. Seventh Respondent MINUTES OF ORDERS JUDGE MAKING ORDER: Drummond J DATE OF ORDER: 27 June, 1995 WHERE MADE: Brisbane THE COURT ORDERS THAT: 1. The applicant have judgment pursuant to s. 1324(10) the Corporations Law against the second respondent for $643,030.31 plus interest in the sum of $181,764.36, totalling $824,794.67. 2. The applicant have judgment pursuant to s. 1324(10) the Corporations Law against the fifth respondent for $492,500.00 plus interest in the sum of $124,139.32, totalling $616,639.32. 3. The applicant have judgment pursuant to s. 1324(10) the Corporations Law against the sixth respondent for $8,500.00 plus interest in the sum of $1,785.69, totalling $10,285.69. 4. The applicant have judgment pursuant to s. 1324(10) the Corporations Law against the seventh respondent for $39,500.00 plus interest in the sum of $13,554.52, totalling $53,054.52. 5. The judgments against the fifth, sixth and seventh respondents respectively be their joint and several liability with the second respondent in respect of the judgment against him in these proceedings and the judgment against the second respondent be his joint and several liability with the fifth, sixth and seventh respondents in respect of the judgments against them in these proceedings to the extent only of the respective amounts of those judgments but otherwise, as between the fifth, sixth and seventh respondents the judgments against them are their respective several liabilities. 6. The second respondent pursuant to s. 230 the Corporations Law be prohibited permanently from managing a corporation from the date hereof but has leave after the period of ten years from today to apply to the Court for permission to participate in the management of a corporation. 7. All moneys recovered by the applicant pursuant to the above judgments be paid to the receivers of the first respondent, or should a liquidator be appointed to the first respondent the liquidator, to be held by them or him in a separate interest bearing deposit account pending further order of the Court for disbursement on account of the beneficiaries of the Beneflex Retirement Plan. 8. The second, fifth, sixth and seventh respondents pay the applicant's taxed costs of the claims in the action against them. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.