ASIC v Australian Investors Forum Pty Ltd & Ors [2004] NSWSC 491

New South Wales Supreme Court

CITATION : ASIC v Australian Investors Forum Pty Ltd & Ors [2004] NSWSC 491 HEARING DATE(S) : 2 and 3 June 2004 JUDGMENT DATE : 3 June 2004 JURISDICTION: Equity Division JUDGMENT OF : Palmer J DECISION : Notice held valid; Defendants to pay costs of application on indemnity basis.

CATCHWORDS : CORPORATIONS - EVIDENCE - INDEMNITY COSTS - Notice under s.79(1) ASIC Act - meaning of "specified statements" - how they may be identified - whether Notice under s.79(1) needs to be signed - whether indemnity costs should be ordered where unsuccessful party has advanced a case without merit and with no reputable argument to support it. - Australian Securities and Investments Commission Act 2001 (Cth) - s.5, s.19, s.76(3), s.79(1) LEGISLATION CITED : - Corporations Act 2001 (Cth) - Part 3 Div 9, s.206E, s.461(1), s.1317H, s.1324(10) - Evidence Act 1995 (NSW) - s.167C, s.169(1) Plaintiff: Australian Securities & Investments Commission First Defendant: Australian Investors Forum Pty Ltd Second Defendant: Dennis Ralph Anthony Third Defendant: Martin Lloyd Cocks Fourth Defendant: Dominic Luvara Fifth Defendant: Peter Victor Topperwien Sixth Defendant: Bud Shaheen Seventh Defendant: Australian Capital Forum Pty Ltd Eighth Defendant: Medionics Pty Ltd Ninth Defendant: Sage Global Fund Ltd Tenth Defendant: Techlogica Pty Ltd Eleventh Defendant: Suisse Credit Pty Ltd Twelfth Defendant: Swiss Pacific Inc Thirteenth Defendant: Nominee Securities Pty Ltd PARTIES : Fourteenth Defendant: Finance Projects Pty Ltd Fifteenth Defendant: Money Mint Pty Ltd Sixteenth Defendant: Casabanca Pty Ltd Seventeenth Defendant: Business Franchises Pty Ltd Eighteenth Defendant: Webfeatures Pty Ltd Nineteenth Defendant: Sacvere Pty Ltd Twentieth Defendant: Associated Asset Management Twenty-first Defendant: IT Genius Pty Ltd Twenty-second Defendant: Moneytec Investment Management Ltd Twenty-third Defendant: Metrobank Pty Ltd Twenty-fourth Defendant: Australian Equity Forum Pty Ltd Twenty-fifth Defendant: Tax Law Accounting Pty Ltd Twenty-sixth Defendant: Tax Law Accounting Partnership Pty Ltd Twenty-seventh Defendant: Biotech Securities Ltd Twenty-eighth Defendant: Arbitrage Trading Pty Ltd Twenty-ninth Defendants: Whitton & Lombe FILE NUMBER(S) : SC 5164/01 COUNSEL : D.R. Stack - Plaintiff J.T. Johnson - 5th, 22nd and 28th Defendants SOLICITORS : Australian Securities & Investments Commission - Plaintiff Anderson Lawyers - 5th, 22nd and 28th Defendants