Australian Securities & Investments Commission, in the matter of QLS Superannuation Pty Ltd (ACN 059 795 998) v Parker [2002] FCA 196

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission,

in the matter of QLS Superannuation Pty Ltd (ACN 059 795 998) v Parker

[2002] FCA 196 PROCEDURE - application to strike out statement of claim - company carrying on business as trustee of superannuation fund - whether loss of trust moneys invested in commercial loans by directors of a trustee company involved breach of statutory duty under s 232(4)

Corporations Law, ss 232(4) and 1317 HA

Pancontinental Mining Ltd v PosGold Investments Pty Ltd (1994) 121 ALR 405 Young v Murphy [1996] 1 VR 279 IN THE MATTER OF QLS SUPERANNUATION PTY LTD ACN 059 795 998 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v GERALD LEONARD PARKER, ANTHONY ASHTON TARR, BRENDAN MATTHEW FRANKCOMBE AND MERCEDES BARRIE Q 3004 OF 2001 DRUMMOND J 22 FEBRUARY 2002 BRISBANE

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q 3004 OF 2001

IN THE MATTER OF QLS SUPERANNUATION PTY LTD

ACN 059 795 998

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

PLAINTIFF

AND: GERALD LEONARD PARKER

FIRST DEFENDANT

ANTHONY ASHTON TARR

SECOND DEFENDANT

BRENDAN MATTHEW FRANKCOMBE

THIRD DEFENDANT

MERCEDES BARRIE

FOURTH DEFENDANT

JUDGE: DRUMMOND J

DATE OF ORDER: 22 FEBRUARY 2002

WHERE MADE: BRISBANE

THE COURT ORDERS THAT:

1. The notices of motion filed by the second, third and fourth defendants on 17 January 2002, 18 January 2002 and 21 January 2002 respectively be dismissed.

2. The second, third and fourth defendants pay the plaintiff's costs of and incidental to the motions to be taxed.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q 3004 OF 2001