Australian Securities & Investments Commission v Wiggins, Renard Jonas & Ors [1998] FCA 1727

FEDERAL COURT OF AUSTRALIA CORPORATIONS LAW – contravention of Corporations Law – investigation being conducted by ASIC – application for interlocutory injunction under s 1323 and s 1324 of the Corporation Law – whether court has power under s 1323(1)(e) or (g) to make an order restraining a party from assigning a patent – whether an order should be made restraining a person the subject of an investigation from leaving the jurisdiction

Corporations Law ss 1323, 1324

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v RENARD JONAS WIGGINS & ORS VG 738 of 1998

JUDGE: FINKELSTEIN J DATE: 30 DECEMBER 1998 PLACE: MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VG 738 of 1998

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Applicant

AND: RENARD JONAS WIGGINS,

TRITECH TECHNOLOGY PTY LTD and

SELF RIGHTING SYSTEMS AUSTRALASIA PTY LTD

Respondents

JUDGE: FINKELSTEIN J

DATE OF ORDER: 30 DECEMBER 1998

WHERE MADE: MELBOURNE

UPON Mr M Worsnop, the first respondent's solicitor, having undertaken to the court that he will not before 4.15pm on 29 January 1999 or further order part with the control of the first respondent's passport

THE COURT ORDERS THAT:

1. Until the hearing of the application or further order: a) The respondents and any other person acting on their behalf be restrained from inviting expressions of interest in the Venture Capital Group scheme, being the scheme described in the document entitled "Venture Capital Agreement private offering" being exhibit "IAJ1" to the affidavit of Ian A Jenkins sworn on 12 December 1998 until the requirements of the Law are satisfied. b) The respondents and any other person acting on their behalf be restrained from responding to expressions of interest received from any members of the public who have expressed an interest in the Venture Capital Group scheme until the requirements of the Law are satisfied. c) The respondents and any person acting on their behalf be restrained from transferring or otherwise parting with possession of any of the funds that have been received since 9.00am on 24 December 1998 from actual or proposed Venture Capital investors in the Venture Capital Group scheme by the respondents or any other person acting on their behalf. 2. The first respondent is required by 4.15pm on 8 January 1999 to prepare and swear an affidavit providing the Australian Securities and Investments Commission with the names and addresses of any person who by an agreement or agreements executed in Australia has invested or who, to the best knowledge of the first respondent, has since 1 January 1998 expressed an intention or interest in investing in the Venture Capital Group Scheme. 3. The first respondent is required by 4.15pm on 8 January 1999 to prepare and swear an affidavit providing the Australian Securities and Investments Commission with the details of all money received from the Venture Capital Group investors referred to in order 2 hereof and to state to the best of his knowledge, how such moneys have been spent or otherwise dealt with. 4. The hearing of directions be adjourned to 9.30am on 12 February 1999. 5. Costs be reserved. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.