Australian Securities and Investments Commission v ALAMMC Developments Pty Ltd (No 1) [2024] FCA 1275

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v ALAMMC Developments Pty Ltd (No 1) [2024] FCA 1275 File number(s): QUD 532 of 2024

Judgment of: O'SULLIVAN J

Date of judgment: 22 October 2024

Date of publication of reasons: 4 November 2024

Catchwords: CORPORATIONS — application for the appointment of receivers to the property of the 14th and 15th defendants pursuant to s 1323 of the Corporations Act 2001 (Cth) — where investigations are being carried out under the Act, the Australian Securities and Investments Act 2001 (Cth) and the Criminal Code Act 1899 (Qld) — where the 14th and 15th defendants may become liable to pay money in respect of a debt — whether the Court considers it necessary or desirable to make orders for the purpose of protecting the interests of investors — application granted CORPORATIONS — application for extension of order restricting travel of the 14th defendant — where investigation is at an early stage and the 14th defendant is central to the investigation, such that it cannot be properly or effectively conducted in his absence — where the character of the potential offences is such to warrant the continuation of the travel restraint — where examinations of the 14th defendant is likely to improve the chances of aggrieved persons retrieving their money — where the 14th defendant has strong ties to Australia – extension granted

Legislation: Australian Securities and Investments Commission Act 2001 (Cth), Part 3, Div 3, Div 3A, 12DA, 12DB Corporations Act 2001 (Cth), ss 9, 79, 79(C)182, 184, 420(2), 601ED, 911A(1), 1041E, 1041G, 1041H, 1323(1)(a), (h), (2A) & (3) Evidence Act 1995 (Cth), s 75, 135 Criminal Code Act 1899 (Qld), s 408C, 408C(1) & (2A)