Guvera Limited v de Vere [2015] FCA 1141

FEDERAL COURT OF AUSTRALIA

Guvera Limited v de Vere [2015] FCA 1141 Citation: Guvera Limited v de Vere [2015] FCA 1141

Parties: GUVERA LIMITED ACN 132 647 388 v MICHAEL ROBERT DE VERE

File number: NSD 1196 of 2015

Judge: JAGOT J

Date of judgment: 22 October 2015

Catchwords: PRACTICE AND PROCEDURE – freezing orders

Legislation: Corporations Act 2001 (Cth) ss 180, 181, 1317H

Cases cited: Jones v Dunkel (1959) 101 CLR 298

Date of hearing: 22 October 2015

Place: Sydney

Division: GENERAL DIVISION

Category: Catchwords

Number of paragraphs: 18

Counsel for the Applicant: Ms S Callan

Solicitor for the Applicant: Arnold Bloch Leibler

Solicitor for the Respondent: Mr C McArdle of McArdle Legal

IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 1196 of 2015

BETWEEN: GUVERA LIMITED ACN 132 647 388

Applicant

AND: MICHAEL ROBERT DE VERE

Respondent

JUDGE: JAGOT J DATE OF ORDER: 22 OCTOBER 2015 WHERE MADE: SYDNEY

On the Applicant providing the usual undertaking as to damages, THE COURT ORDERS THAT: 1. Until further order the Respondent, save to the extent required for the payment of ordinary living expenses and reasonable legal expenses, shall be restrained from disposing of, dealing with, diminishing the value of, or otherwise encumbering: (i) shares held by the Respondent, personally or through any corporate vehicle, in any company including shares held in Guvera Ltd; (ii) 94 Holyrood Road, Maudsland, in the State of Queensland, 4210; (iii) any beneficial interest that the Respondent has in any property held subject to any trust the beneficiary of which is, or one of the beneficiaries of which is, the Respondent; (iv) any bank accounts held in the name of the Respondent. 2. In respect of any sale of shares held in the Applicant for the purposes of ordinary living expenses and/or reasonable legal expenses in accordance with Order 1, the Respondent must provide the Applicant's registry services provider and the Applicant with a copy of the share transfer request form and an accompanying letter setting out: (i) that the shares are being sold at fair market value; (ii) how the proposed transaction is required for the payment of ordinary living expenses and/or reasonable living expenses; and (iii) the expected period of time for which the monies received by the Respondent as a result of the proposed sale of shares will meet the Respondent's ordinary living expenses and/or reasonable legal expenses. 3. Costs of this application be costs in the cause. 4. The matter to be docketed to a docket judge and listed for directions in the week of 2 November 2015. 5. Liberty to apply on 24 hours' notice. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.