National Australia Bank Ltd v Stern, Ilana Elenka & Ors [1998] FCA 1665

FEDERAL COURT OF AUSTRALIA PRACTICE AND PROCEDURE – joinder – Mareva Injunction - transfer of property – whether serious question to be tried - whether reasonably arguable that assets of respondents and prospective respondents could be diminished or dissipated – balance of convenience.

Federal Court of Australia Act 1976, (Cth) s 23 Bankruptcy Act 1966 (Cth), s 121 LED Builders Pty Limited v Eagle Homes Pty Limited (1997) 78 FCR 65, applied Jackson v Sterling Industries Pty Limited (1987) 162 CLR 612, followed NATIONAL AUSTRALIA BANK LIMITED V ILANA ELENKA STERN AND JOSEPH POLLAK

NG 936 OF 1996 TAMBERLIN J SYDNEY 21 DECEMBER 1998

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 936 of 1996

BETWEEN: national australia bank limited

Applicant

AND: ilana elenka stern

First Respondent

joseph pollak

Second Respondent

Harry stern

Third Respondent

Aana pollak

fourth respondent

stern nominees pty limited

fifth respondent

JUDGE: TAMBERLIN J

DATE OF ORDER: 21 DEcember 1998

WHERE MADE: SYDNEY

ORDERS IN RESPECT OF HARRY STERN, AANA POLLAK AND STERN NOMINEES PTY LIMITED

Upon the Applicant giving to the Court: (a) the usual undertakings as to damages; and (b) an undertaking to keep the terms of the following orders confidential and, in particular, not to communicate the terms of such order to any other financial institution or financial reporting agency. The Court orders that: 1. Harry Stern, Aana Pollak and Stern Nominees Pty limited be joined as third, fourth and fifth respondents in proceedings NG 149 of 1996, NG 936 of 1996 and NG 81 of 1998. 2. Until further order, each of the third, fourth and fifth respondents be restrained from selling, disposing of or dealing with any interest in any assets whatsoever and wherever situated in which they have had any interest transferred to them either directly or indirectly by the first two respondents after 1 January 1994 without giving the solicitor for the Applicant at least twenty-eight days prior written notice. 3. Within fourteen days from the date hereof, the third, fourth and fifth respondents file and serve on the Applicant, affidavits giving details of their interests in any property whatsoever and wherever situated, transferred to them either directly or indirectly by the first two respondents, after 1 January 1994 and giving full details as to any sale, disposition or dealing by either of them of any interest in any such property. 4. The third, fourth and fifth respondents pay the costs of the Applicant on this application in relation to the orders made against them. 5. Liberty to apply on 24 hours notice.