Ingot Capital Investments & Ors v Macquarie Equity Capital Markets & Ors [2003] NSWSC 1012

New South Wales Supreme Court

CITATION : Ingot Capital Investments & Ors v Macquarie Equity Capital Markets & Ors [2003] NSWSC 1012 HEARING DATE(S) : 7 & 8 October 2003 JUDGMENT DATE : 7 November 2003

JUDGMENT OF : McDougall J at 1 DECISION : See paras 58-59 of judgment

CATCHWORDS : PRACTICE AND PROCEDURE - application to further amend summons - whether s 51AF of the Trade Practices Act applies - "Financial Service" as defined in Div 2 Pt 2 Australian Securities and Investments Commission Act 2001 - costs Australian Securities and Investments Commission Act 2001 Australian Securities and Investments Commission Act 1989 LEGISLATION CITED : Corporations (Repeals Consequential and Transitional) Act 2001 Fair Trading Act 1987 Judiciary Act 1903 Trade Practices Act 1974 Alcatel Australia Ltd v Scarcella (1998) 44 NSWLR 349, 369 Australia and New Zealand Banking Group Ltd v Larcos (1987) 13 NSWLR 286, 295 Black v City of South Melbourne (1964) 38 ALJR 309, 310 BP Refinery (Westernport) Pty Ltd v Hastings Shire Council (1977) 52 ALJR 20, 26 British American Tobacco Australia Ltd v State of Western Australia [2003] HCA 47 Byrne v Australian Airlines Ltd (1995) 185 CLR 410, 449-450 Castlemaine Tooheys Ltd v Carlton & United Breweries (1987) 10 NSWLR 468, 492 Cleary v Australian Co-operative Foods Ltd (No 2) (1999) 32 ACSR 701 Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337, 347 CASES CITED : Hall v National & General Insurance Co Ltd [1967] VR 355, 366 Harris v Western Australian Exim Corporation (1994) 56 FCR 1, 9-10 Jennings v Credit Corporation Australia Pty Ltd (2000) 48 NSWLR 709, 720-721 Maxwell v Murphy (1957) 96 CLR 261 Northern Territory v GPAO (1999) 196 CLR 553 Proctor v Jetway Aviation Pty Ltd (1984) 1 NSWLR 166, 183 Rodgers v Commissioner of Taxation (1998) 88 FCR 61 South Sydney District Rugby League Football Club Ltd v News Ltd (2000) 177 ALR 611, [426] (citing Tymshare Inc v Covell 727F 2d 1145, 1152 (1984) Stock Motor Ploughs Ltd v Forsyth (1932) 48 CLR 128, 136 Wickstead v Browne (1993) 10 Leg Rep SL 2 Ingot Capital Investments Pty Ltd AOIT Ltd ASC Pty Ltd Australian Opportunities Investment Trust PLC Eastern States Securities Ltd and Ingot Capital Management Pty Ltd v Macquarie Equity Capital Markets Ltd Macquarie Equities Ltd Macquarie Bank Ltd PARTIES : Udayan Daniel Ghose Jonathan Paul Beach Azmin Firoz Daya Craig Deery Michael J Morrisey William Peck Paul Laurence Williams Peter Aroney John Trowbridge Consulting Pty Ltd Patrick Murray and the persons listed in Schedule "B" to the summons and New Cap Reinsurance Corporation Holdings Ltd (in Liq) FILE NUMBER(S) : SC 50169/01 F M Douglas QC/B Katekar (Plaintiffs) A S Bell (Defendants 1-3) P M Wood (Defendant 4) I Pike/N Har (Defendants 5, 7 and 8) A McLennan (Defendant 6) COUNSEL : R Taylor (Defendant 9) W Jacobs (Defendant 10) L F Harris (Defendant 11) S A Goodman (Defendant 12) P J Brereton (Defendant 13) J T Gleeson SC/R A Dick (Defendant 14) Deacons (Plaintiffs) Mallesons Stephen Jaques (Defendants 1-3) Atanaskovic Hartnell (Defendant 4) Colin Biggers & Paisley (Defendants 5, 7 & 8) Sparke Helmore (Defendant 6) SOLICITORS : Gilbert Tobin (Defendant 9) Dibbs Barker Gosling (Defendant 10) M D Nicolaidis (Defendant 11) Minter Ellison (Defendant 12) Blake Dawson Waldron (Defendant 13) Freehills (Defendant 14)