Maritime Workers of Australia Credit Union Limited v MSB Credit Union Limited [2005] FCA 1211

FEDERAL COURT OF AUSTRALIA

Maritime Workers of Australia Credit Union Limited v MSB Credit Union Limited [2005] FCA 1211 TRADE PRACTICES – application for interlocutory relief – special general meeting called by the respondent regarding proposed merger with a third party credit union - claim that the respondent engaged in misleading and deceptive conduct by failing to inform its members about merger proposals made by the applicant - whether there is a serious question to be tried – whether balance of convenience is in favour of granting the relief

Australian Securities and Investments Commission Act 2001 (Cth) ss 5(3), 12BAA, 12BAB, 12DA Trade Practices Act 1974 (Cth) ss 4, 51AF, 52 Corporations Act 2001 (Cth), s 92, Pts 1.2 and 1.3 Financial Sector (Transfers of Business) Act 1999 (Cth) ss 11-18, 43

Castlemaine Tooheys Ltd v South Australia (1986) 161 CLR 148 Ballas v Theophilos (1957) 98 CLR 193 MARITIME WORKERS OF AUSTRALIA CREDIT UNION LIMITED (ABN 11 087 650 315) v MSB CREDIT UNION LIMITED (ABN 81 087 650 235) NSD 1493 of 2005 TAMBERLIN J SYDNEY 31 AUGUST 2005

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 1493 OF 2005

BETWEEN: MARITIME WORKERS OF AUSTRALIA CREDIT UNION LIMITED (ABN 11 087 650 315)

APPLICANT

AND: MSB CREDIT UNION LIMITED (ABN 81 087 650 235)

RESPONDENT

JUDGE: TAMBERLIN J

DATE OF ORDER: 29 AUGUST 2005

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The application for interlocutory relief is refused. 2. The parties will be heard on the question of costs at an appropriate time. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 1493 OF 2005

BETWEEN: MARITIME WORKERS OF AUSTRALIA CREDIT UNION LIMITED (ABN 11 087 650 315)