Melewar Steel Ventures Limited v ANZ Nominees Limited; Terpu v ANZ Nominees Limited [2008] NSWSC 345

New South Wales Supreme Court

CITATION : Melewar Steel Ventures Limited v ANZ Nominees Limited; Terpu v ANZ Nominees Limited [2008] NSWSC 345 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 10 and 11 April 2008

JUDGMENT DATE : 16 April 2008

JURISDICTION : Equity Division

JUDGMENT OF : Windeyer J at 1

DECISION : Application for continuation of interlocutory injunctions refused.

CATCHWORDS : EQUITY - interlocutory injunctions - claim for interest in shares transferred to transferee on documents giving legal title to transferee - claim that entry into documents resulted from fraud or misleading and deceptive conduct or breach of fiduciary duty - claim of notice to third party taking title from first transferee bearing on priority interest - whether serious question to be tried - whether damages a sufficient remedy

LEGISLATION CITED : Australian Securities and Investment Corporation Act 2001

CMG Equity Investments v ANZ Banking Group Limited [2008] FCA 455 CASES CITED : El Ajou v Dollar Land Holdings plc [1993] 3 All ER 717 McMillan Inc v Bishopgate Investment Trust plc (No 3) [1995] 3 All ER 747 Melewar Steel Ventures Limited v ANZ Nominees Limited [2008] NSWSC 295

Melewar Steel Ventures Limited (Plaintiff in 2148 of 2008) John Sotirious Terpu (First Plaintiff in 2204 of 2008) Valleybrook Investments Pty Limited (Second Plaintiff in 2204 of 2008) PARTIES : ANZ Nominees Limited (First Defendant in both matters) Opes Prime Stockbroking Limited (Receivers & Managers Appointed) (Administrators Appointed) (Second Defendant in 2149 of 2008 and Fourth Defendant in 2204 of 2008) ANZ Banking Group Limited (Third Defendant in 2149 of 2008 and Second Defendant in 2204 of 2008) Southeastern Capital Limited (formerly called Opes Prime Securities Limited) (Third Defendant in 2204 of 2008) Leveraged Capital Pty Ltd (Receivers & Managers Appointed) (Administrators Appointed) (Fifth Defendant in 2204 of 2008)