Billy-Budd Investments Pty Limited v Positive Real Estate Partners Pty Limited; in the matter of Positive Real Estate Partners Pty Limited [2009] FCA 1591

FEDERAL COURT OF AUSTRALIA

Billy-Budd Investments Pty Limited v Positive Real Estate Partners Pty Limited; in the matter of Positive Real Estate Partners Pty Limited [2009] FCA 1591

INJUNCTION – multiple share transfers executed in favour of different transferees – whether interlocutory relief should be granted Held: interlocutory process dismissed Corporations Act 2001 (Cth) ss 175, 236-7 and 1324 Castlemaine Tooheys Limited v South Australia (1986) 161 CLR 148 Australian Broadcasting Corporation v Lenah Game Meats Pty Limited (2001) 208 CLR 199 Australian Broadcasting Corporation v O'Neill (2006) 227 CLR 57 Shercliff v Engadine Acceptance Corporation Pty Limited (1978) 1 NSWLR 729 Appleton Papers Inc v Tomasetti Paper Pty Ltd (1983) 3 NSWLR 208 BILLY-BUDD INVESTMENTS PTY LIMITED A.C.N. 126 978 443 and JASON JOHN WHITTON v POSITIVE REAL ESTATE PARTNERS PTY LIMITED A.C.N. 103 496 957, RYAN SHIELS, HBA PARTNERS PTY LIMITED A.C.N. 111 486 812, ROBSAN INVESTMENT HOLDINGS PTY LIMITED A.C.N. 113 994 728, QUEENSLAND RESOURCE INVESTMENTS PTY LIMITED A.C.N. 116 937 538, LISANNE MARIE SANDERS, ADRIAN BRENNOCK and AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

NSD 1415 of 2009

GRAHAM J

16 DECEMBER 2009

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY

general division NSD 1415 of 2009

IN THE MATTER OF POSITIVE REAL ESTATE PARTNERS PTY LIMITED A.C.N. 103 496 957 BETWEEN: BILLY-BUDD INVESTMENTS PTY LIMITED A.C.N. 126 978 443

First Plaintiff

JASON JOHN WHITTON

Second Plaintiff

AND: POSITIVE REAL ESTATE PARTNERS PTY LIMITED A.C.N. 103 496 957

First Defendant

RYAN SHIELS

Second Defendant

HBA PARTNERS PTY LIMITED A.C.N. 111 486 812

Third Defendant

ROBSAN INVESTMENT HOLDINGS PTY LIMITED A.C.N. 113 994 728