NSW Caselaw
New South Wales Supreme Court CITATION : Australian Securities and Investment Commission v Cardinal Financial Securities Limited & 1 Ors [1999] NSWSC 1289 CURRENT JURISDICTION : Equity FILE NUMBER(S) : 5105/99 HEARING DATE(S) : 21/12/1999 JUDGMENT DATE : 21 December 1999
Australian Securities and Investment Commission (Plaintiff) PARTIES : Cardinal Financial Securities Limited (First Defendant) Corporate Investment Australia Funds Management Limited (Second Defendant) JUDGMENT OF : Santow J
COUNSEL : G L Turner (Plaintiff) A Sullivan, QC (Second Defendant) SOLICITORS : CATCHWORDS : CORPORATIONS — ASIC injunction to restrain a meeting of participants in an investment scheme to convert to shares in a listed company and terminate original project — Arguable case of insufficient disclosure — Effect on balance of convenience of participants representing necessary majority confirming other additional information would still vote for change — Need to maintain policy of the law met by former ASIC discretion in approving future amendments to trust deed following meeting — Other conditions to avert injunction. ACTS CITED : Corporations Law s1069A(2), s1324 DECISION : Injunction granted unless various conditions satisfied.
IN THE SUPREME COURT OF NEW SOUTH WALES IN EQUITY
SANTOW J
No. 5105/99 Australian Securities and Investment Commission Plaintiff Cardinal Financial Securities Limited First Defendant Corporate Investment Australia Funds Management Limited Second Defendant
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