NSW Caselaw
New South Wales Supreme Court
CITATION : ASIC v Sydney Investment House Equities Pty Ltd & 9 Ors [2006] NSWSC 1130
HEARING DATE(S) : 18/10/06
JUDGMENT DATE : 27 October 2006
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : White J
DECISION : Parties to bring in short minutes of order according to the reasons.
CATCHWORDS : CORPORATIONS – Winding-up – Liquidators – Appointment – Plaintiff alleged defendants had committed numerous contraventions of Corporations Act 2001 (Cth) – ss 315, 319, 601ED, 727, 734, 911A, 1018A Corporations Act – Where serious question to be tried that defendants had committed such contraventions – Whether provisional liquidator should be appointed to corporate defendants to allow for further investigations and to secure assets against risk of dissipation – Whether final orders should be made - Where sixth defendant presently engaged in sale of apartments in property development – Whether appointment of provisional liquidator to defendants would result in a "fire sale" of apartments and thus materially prejudice interests of investors – Order that provisional liquidator be appointed to corporate defendants other than sixth defendant.
LEGISLATION CITED : Corporations Act 2001 (Cth)
CASES CITED : Australian Securities Commission v AS Nominees (1995) 62 FCR 504 Australian Securities and Investments Commission v ABC Fund Managers & Ors (2001) 39 ACSR 443
Australian Securities and Investments Commission PARTIES : v Sydney Investment House Equities Pty Ltd & 9 Ors
FILE NUMBER(S) : SC 2941/06
COUNSEL : Plaintiff: A J McInerney Defendants: A W Street SC, M Walsh
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