Hayden, Rodney James & Ors v Teplitzky, David Raymond & Ors [1997] FCA 1344

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 855 of 1996

BETWEEN: RODNEY JAMES HAYDEN

First Applicant

PETER SCHWEITZER

Second Applicant

DAYA JAYASINGHE

Third Applicant

GORDON WRIGHT

Fourth Applicant

AND: DAVID RAYMOND TEPLITZKY

First Respondent

RUSSELL JOHN HODGE

Second Respondent

JOHN JOHNSON

Third Respondent

ANTHONY STAVRIANOS

Fourth Respondent

TOP OF THE CROP NQ PTY LTD

(ACN 001 018 645)

Fifth Respondent

LIVERPOOL GROWERS (AUSTRALASIA) PTY LIMITED

(ACN 003 950 105)

Sixth Respondent

JUDGE: EMMETT J

DATE OF ORDER: 28 NOVEMBER 1997

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: UPON the Applicants undertaking to the Court to pay to any person or corporation adversely affected by Order 1, or the undertaking by the Third Respondent set out below, such compensation (if any) as the Court thinks just in such manner as the Court directs, and UPON the Third Respondent undertaking to the Court that: (a) he will procure that Charjon Holdings Pty Limited will not at any time pending the final determination of these proceedings or before further order of the Court knowingly permit the net assets of Charjon to fall below the amount permitted to be paid out to Charjon Pty Limited by the Fifth Applicant under Order 3(c); and (b) if any event occurs which comes to the notice of Charjon Holdings Pty Limited or the Third Respondent which creates a risk that the net assets of Charjon Holdings may fall below that amount, Charjon Holdings Pty Limited or the Third Respondent will inform in writing the solicitors for the Applicants of the happening of that event. THE COURT ORDERS: 1. that within 7 days of the preparation of audited accounts of the Fifth Respondent as at 30 June 1997 the Fifth Respondent forward to the solicitor for the Applicants a copy of such accounts. 2. that the Fifth Respondent be restrained pending the final determination of these proceedings or further order of the Court from disposing of and/or dealing with its assets and/or removing any of its assets from the jurisdiction and shall not, pending the final determination of these proceedings or further order of the Court pay, disburse or deal with the whole or any part of the balance of proceeds of sale of the land of the Fifth Respondent being Lots 9-94 on Registered Plan 735491, Lots 95 and 96 on Registered Plan 735492, Lot 81 on Registered Plan 735493 and Lots 77 and 78 on Registered Plan 735494 contained in Title references Z1119114 to Z1119120 (inclusive), Z1126007, Z1126013 and Z1126014 standing in a trust account in the name of the solicitor for the Fifth Respondent other than (a) for the purposes of paying debts bona fide incurred; and (b) defraying the reasonable legal expenses of the Fifth Respondent in these proceedings, and (c) if audited accounts of the Fifth Respondent as at 30 June 1997 are furnished to the applicants in accordance with Order 1 and such accounts treat the payment made by the Fifth Respondent to Joseph Anthony Prestia and Julie Prestia of $500,000 as part payment of the balance of indebtedness of the Fifth Respondent to Charjon Holdings Pty Limited, in payment, no earlier than 14 days after such accounts have been so furnished, of the amount shown in those audited accounts as the amount owing by the Fifth Respondent to Charjon Holdings Pty Limited; or (d) if audited accounts are furnished to the applicants in accordance with Order 1 and such accounts do not treat the said payment as part repayment of the balance of indebtedness of the Fifth Respondent to Charjon Holdings Pty Limited, in payment, no later than 14 days after such accounts have been so furnished, of the amount shown in those audited accounts as the debt owing by the Fifth Respondent to Charjon Holdings Pty Limited reduced by the amount of $500,000. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.