Australian Securities and Investments Commission v Ignite Financial Systems & Research Pty Ltd [2011] FCA 1101

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Ignite Financial Systems & Research Pty Ltd [2011] FCA 1101 Citation: Australian Securities and Investments Commission v Ignite Financial Systems & Research Pty Ltd [2011] FCA 1101

Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v IGNITE FINANCIAL SYSTEMS & RESEARCH PTY LTD ACN 091 752 920

File number(s): QUD 84 of 2009

Judge: GREENWOOD J

Date of judgment: 23 September 2011

Catchwords: CORPORATIONS – consideration of ss 19 and 70 of the Australian Securities and Investments Commission Act 2001 (Cth) – consideration of the disposition of reserved costs consequent upon the making of a consent order for the disposition of the substantive relief sought by the plaintiff in the proceeding COSTS – consideration of the principles to be applied in the exercise of the discretion as to costs in circumstances where the substantive relief is resolved by a consent order and where no hearing on the merits has taken place

Legislation: Australian Securities and Investments Commission Act 2001 (Cth), ss 19 and 70

Cases cited: Australian Securities Commission v Aust-Home Investments Ltd (1993) 44 FCR 194 – cited Re The Minister for Immigration and Ethnic Affairs of the Commonwealth of Australia: Ex parte Lai Qin (1997) 186 CLR 622 – cited and quoted Aussie Red Equipment Pty Ltd v Antsent Pty Ltd [2001] FCA 1641 - cited One.Tel Ltd v Deputy Commissioner of Taxation [2000] FCA 270 - cited ACCC v Contact Plus Group Pty Ltd (In Liq) [2006] FCA 396 – cited