Australian Securities and Investments Commission v Letten (No 24) [2014] FCA 1322

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Letten (No 24) [2014] FCA 1322 Citation: Australian Securities and Investments Commission v Letten (No 24) [2014] FCA 1322

Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v MARK RONALD LETTEN (and others according to the attached schedule)

File number: VID 95 of 2010

Judge: GORDON J

Date of judgment: 4 December 2014

Date of hearing: 4 December 2014

Date of last submissions: 4 December 2014

Place: Melbourne

Division: GENERAL DIVISION

Category: No Catchwords

Number of paragraphs: 15

Counsel for the Receivers: Mr RD Strong

Solicitor for the Receivers: King & Wood Mallesons

IN THE FEDERAL COURT OF AUSTRALIA VICTORIA DISTRICT REGISTRY GENERAL DIVISION VID 95 of 2010

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Plaintiff

AND: MARK RONALD LETTEN

First Defendant

(and others according to the attached schedule)

JUDGE: GORDON J DATE OF ORDER: 4 DECEMBER 2014 WHERE MADE: MELBOURNE

FOR THE PURPOSES OF THIS ORDER: Receivers has the meaning ascribed in the Orders of Justice Gordon made in this proceeding on 25 February 2010, 4 March 2010 and Order Two made on 30 July 2010. Receivership Entities means each of the corporate defendants in this proceeding to which the Receivers have been appointed. THE COURT ORDERS THAT: 1. The Receivers are justified in causing the Receivership Entities to enter into and perform their obligations under the settlement deed as described in the 52nd affidavit of Damian John Templeton sworn on 18 November 2014 (Settlement Deed). 2. The Receivers be granted the power to dispose of the assets of the Mount Hutt Project (as defined in Order Two made on 30 July 2010) including without limitation the 14 shares in Tosswill Limited (NZBN 9429035560500) registered in the name of Mark Ronald Letten by causing the Receivership Entities to enter into and perform their obligations under the Settlement Deed. 3. Pursuant to s 37AF of the Federal Court of Australia Act 1976 (Cth) and on the ground that the order is necessary to prevent prejudice to the proper administration of justice, Confidential Exhibit DJT-304 to the affidavit of Damian John Templeton sworn on 18 November 2014 is to remain confidential on the court file and is not to be disclosed to any other parties or persons without the express consent of the Receivers or order of this Court. 4. The Receivers are justified in treating the costs of costs of this interlocutory application as costs of the receivership. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011 (Cth).