CMG Equity Investments Pty Ltd v Australia and New Zealand Banking Group Ltd [2008] FCA 455

FEDERAL COURT OF AUSTRALIA

CMG Equity Investments Pty Ltd v Australia and New Zealand Banking Group Ltd [2008] FCA 455

CONTRACT – contract to lend shares – rectification – rights of innocent third parties intervening – whether rectification is available PRACTICE AND PROCEDURE – interlocutory injunction – application to restrain sale of shares by legal owner – requirement to support undertaking in damages – no irreparable harm Beecham Group Ltd v Bristol Laboratories Pty Ltd (1968) 118 CLR 618Birch v Ellames (1794) 2 Anst 427 [145 ER 924] Cash Resources Australia Pty Ltd v BT Securities Ltd [1990] VR 576 Cave v Cave (1880) 15 Ch D 639 Clough v London and North Western Railway Co (1871) LR 7 Exch 26 Coolibah Pastoral Co v Commonwealth (1967) 11 FLR 173 Heid v Reliance Finance Corporation Pty Ltd (1983) 154 CLR 326 Hudston v Viney [1921] 1 Ch 98 Inglis v Commonwealth Trading Bank of Australia (1972) 126 CLR 161 Issa v Berisha [1981] 1 NSWLR 261 (at 265) L G Clarke; Ex parte the Debtor, In re [1967] Ch 1121 Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) (1965) 113 CLR 265 Phillips v Phillips (1862) 4 De G F & J 208 [45 ER 1164] Plimpton v Spiller (1876) 4 Ch D 286 White v Garden (1851) 10 CB 919 [138 ER 364] CMG EQUITY INVESTMENTS PTY LTD and OTHERS (ACCORDING TO THE SCHEDULE) v AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD and OTHERS (ACCORDING TO THE SCHEDULE)

VID 186 of 2008

FINKELSTEIN J

3 APRIL 2008

MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 186 of 2008

BETWEEN: CMG EQUITY INVESTMENTS PTY LTD

and OTHERS (ACCORDING TO THE SCHEDULE)

Plaintiffs

AND: AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD

and OTHERS (ACCORDING TO THE SCHEDULE)

Defendants

JUDGE: FINKELSTEIN J DATE OF ORDER: 3 APRIL 2008