Australian Securities & Investments Commission v Maxwell & Ors (No 2) [2006] NSWSC 1333

New South Wales Supreme Court

CITATION : Australian Securities & Investments Commission v Maxwell & Ors (No 2) [2006] NSWSC 1333

HEARING DATE(S) : 17/10/06 JURISDICTION : Equity

JUDGMENT OF : Brereton J

EX TEMPORE JUDGMENT DATE : 10/17/2006

DECISION : Director disqualified for 5 years

CATCHWORDS : CORPORATIONS - Directors and officers - Disqualification - Where corporations have repeatedly contravened fundraising provisions - relevant considerations - aggravating and mitigating circumstances

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 180(1), 181(1), 206D(1), 206E(1), 206G, 727(1), 734(1), 734(2), 911A, 1041I

CASES CITED : ASIC v Adler (2002) 42 ACSR 80; [2002] NSWSC 483

Australian Securities & Investments Commission (plaintiff) Donald Richard Maxwell (first defendant) Oceanwalk Projects Pty Limited (third defendant) Procorp Investments Pty Limited (fourth defendant) Central Development Group Pty Limited (fifth defendant) The Wake (Waitara) Pty Limited (sixth defendant) Alliance Property Developments Limited (seventh defendant) Malcolm Fortune (eighth defendant) Coakley Associates Pty Limited (ninth defendant) Bankstown Project Two Pty Limited (tenth defendant) Drummoyne Constructions Pty Limited (eleventh defendant) Great Northern Constructions Pty Limited (twelfth defendant) Homebush Project One Pty Limited (thirteenth defendant) PARTIES : Liverpool Projects Limited (fourteenth defendant) Mansions on Mann Limited (fifteenth defendant) Maroubra Properties Pty Limited (sixteenth defendant) Miranda Villas Pty Limited (seventeenth defendant) Procorp Investments (Gosford) Pty Limited (eighteenth defendant) Zepher Pty Limited (nineteenth defendant) Jim Kolios (twentieth defendant) Northern Sight Pty Ltd (twenty-first defendant) George Nahed (twenty-second defendant) Troy Pierre Fortune (twenty-third defendant) John William Bennett (twenty-fourth defendant) Jaul Jammal (twenty-fifth defendant) Roy Skaf (twenty-sixth defendant) Lloyd Coakley (twenty-seventh defendant)