Politano, Bruno & Ors v ACN 060 442 926 Pty Ltd & Ors [1998] FCA 572

FEDERAL COURT OF AUSTRALIA INJUNCTION – Interlocutory Injunction – meaning of "serious question to be tried" – purchaser of business secures vendor finance by fixed and floating charge, defaults, and seeks interlocutory injunction restraining vendor from appointing receiver pending trial – final relief seeks declarations under s 87 of Trade Practices Act 1974 (Cth) that agreements and charge void – purchasers had also purported to rescind – no seeking of final relief with which handing back of business to vendor would be inconsistent – claim for unliquidated damages alone no ground for preventing secured creditor from exercising rights. Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161 Murphy v Abi-Saab (1995) 37 NSWLR 280 (CA)

BRUNO POLITANO AND MARIA TERESA POLITANO & anor v acn 060 442 926 pty limited & ors

NG 416 of 1998 LINDGREN J SYDNEY 29 MAY 1998

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 416 of 1998

BETWEEN: BRUNO POLITANO AND MARIA TERESA POLITANO

First Applicants

FRESH 'N CLEAN PTY LIMITED

(acn 078 797 994)

Second Applicant

AND: ACN 060 442 926 PTY LIMITED

First Respondent

JOSEPH MICHAEL JOHN FARRUGIA

Second Respondent

SANDRA LEE FARRUGIA

Third Respondent

JOHN CAINS

Fourth Respondent

JUDGE: LINDGREN J

DATE OF ORDER: 29 may 1998

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The application, in so far as it claims interlocutory relief, be dismissed. 2. The parties' costs of the application for interlocutory relief be reserved. 3. The proceeding be stood over to Tuesday 2 June 1998 at 9.30 am for directions. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.