Australian Securities and Investments Commission v McIntyre [2016] FCA 1276

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v McIntyre [2016] FCA 1276 File number: VID 407 of 2015

Judge: BROMWICH J

Date of judgment: 17 October 2016

Catchwords: CORPORATIONS – banning orders and injunctions – hearing on appropriateness of orders and declarations proposed by plaintiff and personal defendants Mr Jamie McIntyre and Mr Dennis McIntyre – where personal defendants responsible for five unregistered managed investment schemes – where investor money mostly not recovered or recoverable – where personal defendants had history of financial mismanagement – relief agreed to entirely appropriate in the circumstances of financial incompetence of the personal defendants – disqualification order imposed banning both personal defendants from managing corporations for 10 years – injunction for 10 years imposed on both personal defendants prohibiting either of them from carrying on a business related to, concerning or directed to financial products or financial services, providing financial product advice, dealing in financial products or in any way holding themselves out as doing any of those things – any breach of 10-year disqualification/banning orders or 10-year injunctions a serious contempt of court which may warrant imprisonment

Legislation: Corporations Act 2001 (Cth), ss 601ED, 601ED(1), 601ED(5), 761A, 911A, 911A(1), 911B(1), 1324(3), 1324(8) Evidence Act 1995 (Cth), s 191 Federal Court of Australia Act 1976 (Cth), s 21