Australian Securities and Investments Commission v Ludgates Corporate & Investment Advisory Services Pty Ltd [2003] FCA 625

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Ludgates Corporate & Investment Advisory Services Pty Ltd [2003] FCA 625 CORPORATIONS – Ex parte application pursuant to s 1323(1) of the Corporations Act 2001 for orders requiring respondent to deliver up to the Court his passport and prohibiting respondent from leaving the jurisdiction – applicant wishes to examine respondent pursuant to s 19 of Australian Securities and Investments Commission Act 2001 (Cth) – evidence insufficient to establish that examination of the respondent is likely to improve chances of recovering money – no prima face case of contravention by the respondent of the legislation – orders not granted. Corporations Act 2001 (Cth), s 1323(1) Australian Securities and Investments Commission Act 2001 (Cth), s 19 ASIC v Mauer-Swisse Securities Ltd (2002) 20 ACLC 1530 ASIC v Australian Investors Forum Pty Ltd [2001] NSWSC 1180 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v LUDGATES CORPORATE & INVESTMENT ADVISORY SERVICES PTY LTD N 3037 of 2003 SACKVILLE J 20 JUNE 2003 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N3037 OF 2003

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

APPLICANT

AND: LUDGATES CORPORATE & INVESTMENT ADVISORY SERVICES PTY LTD (ACN 053 972 320)

FIRST RESPONDENT

BENJAMIN PAUL WHITEHOUSE

SECOND RESPONDENT

JENNIFER MARTINE SISSON

THIRD RESPONDENT

JAMES ADRIAN DEAN

FOURTH RESPONDENT

JUDGE: SACKVILLE J

DATE OF ORDER: 20 JUNE 2003

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The application be dismissed.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N3037 OF 2003