KR Properties Global Pty Ltd (ACN 602 693 729) t/as AK Properties Group (ABN 62 971 068 965) v Kazzi [2024] NSWCA 141

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: KR Properties Global Pty Ltd (ACN 602 693 729) t/as AK Properties Group (ABN 62 971 068 965) v Kazzi [2024] NSWCA 141 Hearing dates: 03 June 2024 Date of orders: 05 June 2024 Decision date: 05 June 2024 Before: Mitchelmore JA Decision: (1) Upon the first and second cross-appellants giving the usual undertaking as to damages and the other undertakings recorded in Schedule A of the Form of Orders annexed to the orders and marked "A", orders are made on the terms of Annexure "A". (2) The cross-respondent is to pay the cross-appellants' costs of the notice of motion filed on 24 May 2024. (3) The undertaking given by the solicitors on the record for Mr Kazzi on 3 June 2024 is discharged. (4) Liberty is granted to apply on 12 hours' notice. (5) These orders are to be entered forthwith. Catchwords: CIVIL PROCEDURE — freezing orders — costs order below and potential increase of judgment sum on cross-appeal — where judgment on appeal and cross-appeal reserved — where respondent has entered a contract of sale for only significant asset — whether risk of dissipation of assets — whether discretion to make orders should be exercised Legislation Cited: Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Australian Securities and Investments Commission v Carey (No 6) (2006) 153 FCR 509 Blatch v Archer [1774] EngR 2; (1774) 98 ER 969 Cardile v LED Builders Pty Ltd (1999) 198 CLR 380; [1999] HCA 18 Care A2 Plus Pty Ltd v Pichardo [2023] NSWCA 156 Finn v Carelli [2007] NSWSC 261 Frigo v Culhaci [1998] NSWCA 88 Hurst, in the matter of Lloyds Curry Shop Pty Ltd (in liq) v Prasad (No 3) [2023] FCA 1174 In the matter of Black Eagle Media Pty Ltd [2014] NSWSC 1778 In the matter of Colorado Products Pty Ltd [2012] NSWSC 1251 Jackson v Sterling Industries Ltd (1987) 162 CLR 612; [1987] HCA 23 JSC BTA Bank v A [2010] EWCA Civ 1141 Ninemia Maritime Corp v Trave Schiffahrtsgesellschaft mbH & Co KG [1983] 1 WLR 1412; [1984] 1 All ER 398 Oxford (NSW) Pty Ltd v KR Properties Global Pty Ltd trading as AK Properties Group [2023] NSWSC 343 Oxford (NSW) Pty Ltd v KR Properties Global Pty Ltd trading as AK Properties Group ABN 62 971 068 965 (No 4) [2023] NSWSC 960 Oxford (NSW) Pty Ltd v KR Properties Global Pty Ltd [2024] NSWSC 613 Patterson v BTR Engineering (Aust) Ltd (1989) 18 NSWLR 319 Samimi v Seyedabadi [2013] NSWCA 279 Severstal Export GmbH v Bhushan Steel Ltd (2013) 84 NSWLR 141; [2013] NSWCA 102 Southage Pty Ltd v Beijing Garden Resort Pty Ltd [2013] VSC 272 Tomasetti v Brailey [2012] NSWCA 6 Victoria University of Technology v Wilson [2003] VSC 299 Texts Cited: Practice Note SC Gen 14 Category: Principal judgment Parties: KR Properties Global Pty Ltd (ACN 602 693 729) t/as AK Properties Group (ABN 62 971 068 965) (First Applicant on the Motion / First Cross-Appellant) AS Coaching Pty Ltd (ACN 602 073 343) ATF Calm Properties Unit Trust (ABN 19 756 796 114) t/as AK Properties Group (ABN 62 971 068 965) (Second Applicant on the Motion / Second Cross-Appellant) Pierre Kazzi (Respondent on the Motion / Cross-Respondent) Representation: Counsel: J Horowitz (Applicants on the Motion / Cross-Appellants) S Scott (Respondent on the Motion / Cross-Respondent)