Australian Securities & Investments Commission v Roussi [1999] FCA 618

FEDERAL COURT OF AUSTRALIA

Australian Securities Commission v Roussi [1999] FCA 618

CORPORATIONS LAW – application to prohibit the respondents from managing a corporation – whether there should be differing periods of disqualification because of different roles in the conduct and management of the companies – evidence of 430 complaints by consumers and other significant failings in goods and services supplied by the respondents – debts of almost $5 million of 10 companies in liquidation – knowing and wilful offences against the Corporations Law

Corporations Law ss 229, 230 Australian Securities Commission v Reid (unreported, Jenkinson J, 10 March 1992) cited Australian Securities Commission v Dimitri (unreported, Burchett J, 8 May 1997) cited Re Minimix Industries Ltd [1982] 1 ACLC 511 cited Re Marsden [1981] 5 ACLR 695 cited Commissioner for Corporate Affairs (WA) v Ekamper [1987] 12 ACLR 519 followed

AUSTRALIAN SECURITIES COMMISSION V MISAGH ROUSSI AND ORS NG 3230 OF 1997

THE HON JUSTICE MARCUS EINFELD AO SYDNEY 11 MAY 1999

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3230 OF 1997

BETWEEN: AUSTRALIAN SECURITIES COMMISSION

Applicant

AND: MISAGH ROUSSI

First Respondent

ROHYEH ROHANI

Second Respondent

PAKZAD GHAFAROKHI

Third Respondent

JUDGE: THE HON JUSTICE MARCUS EINFELD AO

DATE OF ORDER: 11 MAY 1999

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. the first and second respondents be prohibited from managing a corporation for a period of 10 years, with immediate effect in the case of the second respondent, and with effect from his discharge from bankruptcy in the case of the first respondent. 2. the first and second respondents pay the applicant's costs. Note: Settlement and entry of orders are dealt with in Order 36 of the Federal Court Rules.