ASIC v Elm Financial Services Pty Ltd & Ors (No 2) [2004] NSWSC 335

New South Wales Supreme Court

CITATION : ASIC v Elm Financial Services Pty Ltd & Ors (No 2) [2004] NSWSC 335 HEARING DATE(S) : 14 April, 2004 JUDGMENT DATE : 14 April 2004 JURISDICTION: Equity Division JUDGMENT OF : Palmer J DECISION : Interim orders made.

CATCHWORDS : CORPORATIONS - FUNDRAISING - INTERIM ORDERS - investment schemes promoted - ASIC alleges breach of disclosure requirements of Part 6D.2 Corporations Act - whether interim compliance orders and asset preservation injunctions justified. LEGISLATION CITED : Corporations Act 2001 (Cth) - s.708, s.1324(4) Australian Securities and Investments Commission - Plaintiff Elm Financial Services Pty Ltd - First Defendant Elm Nominee Services Pty Ltd - Second Defendant Elm Management Services Pty Ltd - Third Defendant Elm Property Developments Pty Ltd - Fourth Defendant Fletcher Securities Pty Ltd - Fifth Defendant PARTIES : E Star Developments Redfern Pty Ltd - Sixth Defendant E Star Developments Surry Hills Pty Ltd - Seventh Defendant Dennis Howell Terracini - Eighth Defendant Andrew Dennis Terracini - Ninth Defendant Duncan Grant McCartney - Tenth Defendant Robert John Kay - Eleventh Defendant Howard Young - Twelfth Defendant FILE NUMBER(S) : SC 2313/04 COUNSEL : D.R. Stack - Plaintiff M.A. Pembroke SC, A. Harding - Defendants SOLICITORS : Jan Redfern - Plaintiff Turks Legal - Defendant