Crosby Textor Research Strategies Results Pty Limited v Syed [2020] NSWSC 1792

Supreme Court New South Wales

Medium Neutral Citation: Crosby Textor Research Strategies Results Pty Limited v Syed [2020] NSWSC 1792 Hearing dates: 20 November 2020 Date of orders: 20 November 2020 Decision date: 20 November 2020 Jurisdiction: Equity Before: Rees J Decision: Refuse application to vary Mareva order to permit defendant to use $200,000 held in Court for legal expenses in these and related criminal proceedings. Catchwords: MAREVA ORDER – alleged $3M fraud by employee – freezing order – exception for $20,000 legal expenses – related criminal proceedings – deed executed to permit sale of property with proceeds paid into Court - $726,000 paid into Court – plaintiff seeks tracing remedies – risk of injustice to plaintiff outweighs potential injustice to defendant – orders refused. Legislation Cited: Crimes Act 1900 (NSW), s 192E(1)(b) Uniform Civil Procedure Rules 2005 (NSW), r 41.11 Cases Cited: A v C (No 2) [1981] 2 All ER 126 Australian Iron & Steel Pty Ltd v Buck [1982] 2 NSWLR 889 Barnes v Addy (1874) LR 9 Ch App 244 Birketu Pty Ltd v Westpac Banking Corporation (No 2) [2018] NSWSC 494 Black v S Freedman & Co [1910] HCA 58; (1910) 12 CLR 105 Clark Equipment Credit of Australia Ltd v Como Factors Pty Ltd (1998) 14 NSWLR 552 Commonwealth of Australia v Jansenderger (Unreported, Supreme Court of Victoria, 3 October 1985) Council of the Law Society v O'Brien [2019] NSWSC 1879 Deputy Commissioner of Taxation v Bollands (2012) 90 ATR 679; [2012] FCA 1050 Elford v Minty [2017] NSWSC 1455 Frigo v Culhaci [1998] NSWCA 88 Glenwood Management Group Pty Ltd v Mayo [1991] 2 VR 49 Goumas v McIntosh [2002] NSWSC 713 JKB Holdings Pty Limited v de la Vega [2013] NSWSC 501 Paino v Hofbauer (1998) 13 NSWLR 193 Patrick Stevedores Operations No 2 Pty Ltd v Maritime Union of Australia (No 3) (1998) 195 CLR 1; [1998] HCA 30; (1998) 72 ALJR 873 Petar v Macedonian Orthodox Community Church St Petka Inc [2006] NSWCA 277 Polly Peck International Plc v Nadir (No 2) [1992] 4 All ER 769 Re Courtenay House Capital Trading Group Pty Limited (in liquidation) (2018) 133 ACSR 451; [2018] NSWSC 1918 Rheem Australia Pty Ltd v McInnes [2020] NSWSC 1313 Russell Gould Pty Ltd v Ramangkura (2014) 87 NSWLR 552; [2014] NSWCA 310 Short v Crawley (No 42) [2009] NSWSC 1110 Thomson v Golden Destiny Investments Pty Ltd (No 2) [2015] NSWSC 1929 Category: Principal judgment Parties: Crosby Textor Research Strategies Results Pty Limited (Plaintiff) Mohammed Syed (First Defendant) Rabia Parveen (Second Defendant) Representation: Counsel: Mr S Docker and Ms E Keynes (Plaintiff) Mr C Parkin (First Defendant) Ms N Rademeyer, solicitor (Second Defendant)