Whitlam v Australian Securities and Investments Commission [2002] NSWCA 312

Reported Decision : (2003) 43 ACSR 73

New South Wales Court of Appeal

CITATION : Whitlam v Australian Securities and Investments Commission [2002] NSWCA 312 FILE NUMBER(S) : CA 40709/02; 40710/02 HEARING DATE(S) : 16 September 2002 JUDGMENT DATE : 20 September 2002

PARTIES : Nicholas Richard Whitlam - Claimant Australian Securities and Investments Commission - Opponent JUDGMENT OF : Giles JA

LOWER COURT JURISDICTION : Supreme Court LOWER COURT SC 4421/01 FILE NUMBER(S) : LOWER COURT Gzell J JUDICIAL OFFICER :

COUNSEL : A J L Bannon SC & J Stephenson - Claimant M A Pembroke SC & D R Stack - Opponent SOLICITORS : Watson Mangioni - Claimant Jan Redfern, Solicitor for the Australian Securities and Investments Commission - Opponent CATCHWORDS : Companies - disqualification order - stay pending appeal - whether should be granted - serious findings - little evidence of hardship - on facts, stay refused. ND DECISION : Notices of motion dismissed with costs.

IN THE SUPREME COURT OF NEW SOUTH WALES COURT OF APPEAL CA 40709/02 CA 40710/02

GILES JA

Friday 20 September 2002 WHITLAM v AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION WHITLAM v AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION

Judgment 1 GILES JA: This is an application for the stay pending an appeal of orders made by Gzell J by which Mr Nicholas Whitlam was prohibited from managing a corporation for five years and required to pay to the Commonwealth a pecuniary penalty of $20,000. I am exercising the powers of the Court of Appeal pursuant to s 46 of the Supreme Court Act 1970. 2 For the reasons which follow, in my opinion the application should be dismissed.