Commonwealth of Australia v South Pacific Cruise Lines Ltd & Ors [1998] FCA 721

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 741 of 1997

BETWEEN: commonwealth of australia

Applicant

AND: south pacific cruise lines ltd (ACN 076 749 794)

first Respondent

Gregory Stephen adams

second respondent

cgi financial services pty ltd (acn 072 940 437)

third respondent

JUDGE: FOSTER J

DATE OF ORDER: 27 may 1998

WHERE MADE: SYDNEY

THE COURT declares THAT:

1. The first respondent received the sum of $2,235,838.50 as trustee for the applicant on 10 June 1997. 2. The balance of the said sum in an amount of $3,3053.83 has continued to be held on trust by the first respondent since 15 September 1997. THE COURT ORDERS THAT: 1. The first respondent repay the balance of the said trust monies in the amount of $3,053.83 to the applicant. 2. The first respondent pay damages in the amount of $730,843.17 by way of equitable compensation. 3. The third respondent pay damages in the amount of $733,897.00 by way of equitable compensation. 4. The first and third respondents pay interest on the sum of $733,897.00 in an amount of $41,129.00. 5. The first and third respondents pay the applicant's costs of these proceedings as against the first and third respondents. 6. The exhibits tendered in the proceedings on 17 October 1997, 22 April 1998 and 27 May 1998 be retained in Court for a period of three months from today. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 741 of 1997

BETWEEN: commonwealth of australia

Applicant

AND: south pacific CRUISE lines ltd (ACN 076 749 794)

first Respondent