Australian Securities and Investments Commission v Australian Property Custodian Holdings Limited (Receivers and Managers appointed) (in liquidation) (Controllers appointed) [2014] FCA 1308

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Australian Property Custodian Holdings Limited (Receivers and Managers appointed) (in liquidation) (Controllers appointed) [2014] FCA 1308 Citation: Australian Securities and Investments Commission v Australian Property Custodian Holdings Limited (Receivers and Managers appointed) (in liquidation) (Controllers appointed) [2014] FCA 1308

Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v AUSTRALIAN PROPERTY CUSTODIAN HOLDINGS LIMITED (ACN 095 474 436) (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) (CONTROLLERS APPOINTED), WILLIAM LIONEL LEWSKI, MARK FREDERICK BUTLER, KIM JAQUES, MICHAEL RICHARD LEWIS WOOLDRIDGE and PETER CLARKE

File number: VID 594 of 2012

Judge: MURPHY J

Date of judgment: 2 December 2014

Catchwords: CORPORATIONS – multiple contraventions of Corporations Act 2001 (Cth) – civil penalty provisions – the approach to dealing with multiple contraventions – the course of conduct principle CORPORATIONS – directors – officers – application for relief from liability – scope of relief available – factors to be considered in exercising discretion to grant relief CORPORATIONS – directors – officers – sentencing – determination of appropriate penalties – disqualification orders – pecuniary penalties – declarations of contravention – factors to be considered in imposing penalties – seriousness of contraventions – protection of the public through personal and general deterrence – evidence of character and contribution to society – understanding of the proper role of a director – contrition – hardship – balancing hardship of penalty against the public interest – totality principle – parity principle