Roumanus v Orchard Holdings (NSW) Pty Limited (In Liq), In the Matter of Orchard Holdings (NSW) Pty Limited (In Liq) [2012] FCA 775

FEDERAL COURT OF AUSTRALIA

Roumanus v Orchard Holdings (NSW) Pty Limited (In Liq), In the Matter of Orchard Holdings (NSW) Pty Limited (In Liq) [2012] FCA 775 Citation: Roumanus v Orchard Holdings (NSW) Pty Limited (In Liq) [2012] FCA 775

Parties: RAYMOND ANTHONY ROUMANUS, ARTHUR JOHN ROUMANUS, SANDRA MARY ROUMANUS, SALISBURY PARTNERS (NSW) PTY LIMITED (ACN 120 421 016), MARY MAROON, WARATAR PTY LTD (ACN 068 651 570) ATF THE ROUMANUS SUPERANNUATION TRUST AND ROSEMAREE MAROON AS TRUSTEE FOR MAROON FAMILY TRUST v ORCHARD HOLDINGS (NSW) PTY LIMITED (IN LIQUIDATION) (ACN 097 062 283); IN THE MATTER OF ORCHARD HOLDINGS (NSW) PTY LIMITED (IN LIQUIDATION) (ACN 097 062 283)

File number: NSD 1618 of 2010

Judge: FOSTER J

Date of judgment: 20 July 2012

Catchwords: CORPORATIONS –Whether the defendant corporation in liquidation should be held liable as the primary contravenor or, alternatively, as an accessory, in respect of misleading and deceptive conduct constituted by representations made by persons who occupied office as directors of the corporation in connection with the sale by one of those persons to others of shares in the corporation – whether causes of action out-of-time in any event – whether causes of action could be maintained pursuant to ss 52, 75B and 82 of the Trade Practices Act 1974 (Cth)

Legislation: Australian Securities and Investments Act 2001 (Cth), ss 12BAB(1)(b), 12BAB(7), 12DA(1), 12GB, 12GF Corporations Act 2001 (Cth), ss 9, 79, 471B, 553, 553A, 563A, 1041H, 1041I Corporations Amendment (Sons of Gwalia) Act 2010 (Cth) (No 150 of 2010), s 3, Sch 1, par 4(1) Trade Practices Act 1974 (Cth), ss 4, 51AF, 52, 82 and 87