ASIC v Rich [2005] NSWSC 417

Reported Decision : 53 ACSR 752 (2005) 23 ACLC 838

New South Wales Supreme Court

ASIC v Rich [2005] NSWSC 417 CITATION : This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 8 March to 6 April, and written submissions to 12 April 2005

JUDGMENT DATE : 5 May 2005

JURISDICTION : Equity

JUDGMENT OF : Austin J

DECISION : See under heading "Conclusions"

CATCHWORDS : EVIDENCE - admissibility of documents - scope and effect of s 1305 of the Corporations Act - whether such documents as budgets are inadmissible under the hearsay rule - requirement of authentication of documents tendered in evidence - scope and effect of business records exception to hearsay rule - effect of business records exception where document contains representations of expert opinion - scope of "unfair prejudice" under ss 135 and 136

Corporations Act 2001 (Cth) ss 9, 286, 439A, 531, 542, 1305, 1306 LEGISLATION CITED : Evidence Act 1995 (NSW) ss 48, 55, 56, 57, 58, 59, 69, 79, 135, 136, 183

Adler v ASIC (2003) 179 FLR 1 Adler v ASIC (2003) 46 ACSR 504 Albrighton v Royal Prince Alfred Hospital [1980] 2 NSWLR 542 ASIC v Adler (2002) 41 ACSR 72 ASIC v Rich [2005] NSWSC 149 ASIC v Rich [2005] NSWSC 256 ASIC v Rich [2005] NSWSC 296 Atra v Farmers & Graziers Co-op Co Ltd (1986) 5 NSWLR 281 Australian Competition and Consumer Commission v Australian Safeway Stores Pty Ltd [1999] FCA 1269 Briginshaw v Briginshaw (1938) 60 CLR 336 Caratti v R (2000) 22 WAR 527 Century Medical Inc v THLD Ltd (No 3) [2000] NSWSC 428 Chief Executive Officer of Customs v Labrador Liquor Wholesale Pty Ltd (2003) 216 CLR 161 Citibank Ltd v Chiu Wah Liu [2003] NSWSC 236 Commonwealth v McLean (1996) 41 NSWLR 389 Connex Group Australia Pty Ltd v Butt [2004] NSWSC 379 Daw v Toyworld (NSW) Pty Ltd [2001] NSWCA 25 Duke Group Ltd (in liq) v Pilmer (1994) 15 ACSR 255 Dyer v R (2002) 76 ALJR 1552 Fabre v Arenales (1992) 27 NSWLR 437 Fabre v Arenales (1992) 27 NSWLR 437 Feltafield Pty Ltd v Heidelberg Graphic Equipment (1995) 56 FCR 481 Forge v ASIC (2003) 52 ACSR 1 Global Medical Imaging Management Ltd (in liq) v Australian Mezzanine Investments Pty Ltd [2003] NSWSC 431 Gordon (Bankrupt), Official Trustee in Bankruptcy v Pike (No 1) (Federal Court of Australia, unreported, 1 September 1995) Karmot Auto Spares Pty Ltd v Dominelli Ford (Hurstville) Pty Ltd (1992) 35 FCR 560 Kingham v Sutton (No 3) [2001] FCA 1117 Lee v Minister for Immigration & Multicultural & Indigenous Affairs [2002] FCAFC 305 Linfox Transport (Aust) Pty Ltd v Arthur Yates & Co Ltd (2003) 47 ACSR 261 Makita (Australia) Pty Ltd v Sprowles (2001) 52 NSWLR 705 Manning v Cory & Sumner [1974] WAR 60 McVeigh (as liquidator of JAG Plastering & Carpentry Pty Ltd (Vic)) v Commissioner of Taxation [2004] FCA 653 Merrylands Bowling, Sporting & Recreation Club Ltd v P & H Property Services Pty Ltd [2001] NSWCA 358 Murray v RentWorks Ltd [2003] NSWIRComm 54 National Australia Bank Ltd v Rusu (1999) 47 NSWLR 309 NSW Crime Commission v Rinh [2003] NSWSC 811 NT Power Generation Pty Ltd v Power and Water Authority [1999] FCA 1549 O'Meara v Dominican Fathers [2003] ACTCA 24 One.Tel Ltd (in liquidation) v Rich [2005] NSWSC 226 CASES CITED : Ordukaya v Hicks [2000] NSWCA 180 Papakosmas v The Queen (1999) 196 CLR 297 Porter v Cook [1971] 1 NSWLR 318 R v Apostilides (1984) 154 CLR 563 R v Chin (1985) 157 CLR 671 R v Clark [2001] NSWCCA 494 R v Connell (1995) 14 ACLC 32 R v Jones [1978] 1 WLR 195 R v Lucas [1973] VR 693 R v Sing (2002) 54 NSWLR 31 R v Turner (No 17) (2002) 10 Tas R 388 Re Action Waste Collections Pty Ltd (in liq); Crawford v O'Brien [1981] VR 691 Residues Treatment and Trading Co Ltd v Southern Resources Ltd (1989) 52 SASR 54 Rich v ASIC (2004) 78 ALJR 1354 Richardson v R (1974) 131 CLR 116 Ringrow Pty Ltd v BP Australia Ltd [2003] FCA 933 Ritz Hotel Ltd v Charles of the Ritz Ltd (Nos 13, 18 & 19) (1988) 14 NSWLR 116 Roach v Page (No 11) [2003] NSWSC 907 Roach v Page (No 15) [2003] NSWSC 939 Roach v Page (No 27) [2003] NSWSC 1046 Ross McConnel Kitchen & Co Pty Ltd (in liq) v Ross (No 1) (1985) 1 NSWLR 233 RW Miller & Co Pty Ltd v Krupp (Australia) Pty Ltd (1991) 32 NSWLR 152 Seneviratne v R [1936] 3 All ER 36 (PC), Shaw v R (1952) 85 CLR 365 Sheahan v Northern Australian Land and Agency Co Ltd (1994) 176 LSJS 257 Smith v The Queen (2001) 206 CLR 650 Southern Equities Corporation Ltd (in liq) v Arthur Andersen & Co (No 10) (2002) 82 SASR 53 Stankowski v Commonwealth [2003] NSWSC 122 Terranora Group Management Pty Ltd v Terranora Lakes Country Club Ltd (in liq) (unreported, Supreme Court of New South Wales, Santow J, 1 December 1997 The Duke Group Ltd (in liq) v Arthur Young (1990) 3 ACSR 420 Timms v Commonwealth Bank of Australia [2003] NSWSC 576 Tubby Trout Pty Ltd v Sailbay Pty Ltd (1992) 113 ALR 748 Valoutin v Furst (1998) 154 ALR 119 Van Reesema v Flavel (1992) 10 ACLC 291 Vitali v Stachnik [2001] NSWSC 303 Waterwell Shipping Inc v HIH Casualty and General Insurance Ltd (unreported, Supreme Court New South Wales, Giles CJ (Comm Div), 8 September 1997, BC9704168) Whitehorn v R (1981) 152 CLR 657 Young v Coupe [2004] NSWSC 546 Ziems v The Prothonotary (1957) 97 CLR 279