NSW Caselaw
New South Wales Court of Appeal
CITATION: Melewar Steel Ventures Limited v ANZ Nominees Limited; Terpu v ANZ Nominees Limited [2008] NSWCA 68 This decision has been amended. Please see the end of the judgment for a list of the amendments.
HEARING DATE(S): 18 April 2008
JUDGMENT DATE: 21 April 2008
JUDGMENT OF: Spigelman CJ at [1], [46], [52] ; Mason P at [2]; Hodgson JA at [47]
EX TEMPORE JUDGMENT DATE: 21 April 2008
DECISION: Leave to appeal refused; Summons dismissed with costs; The orders made by this Court extending the earlier injunctions are dissolved: in both matters.
CATCHWORDS: EQUITY – Interlocutory injunctions – Claim for interest in shares transferred to broker on documents giving full title to broker – Claim that entry into transactions induced by misrepresentation that transactions merely gave security over the shares – Claim of notice to bank taking title from broker – Whether serious question to be tried against bank – Balance of convenience – Whether damages a sufficient remedy.
LEGISLATION CITED: Australian Securities & Investment Commission Act s12DA, s12GD
CATEGORY: Principal judgment
Barnes v Addy (1874) LR 9 Ch App 244 CASES CITED: Farah Constructions Pty Ltd v Say-Dee Pty Ltd (2007) 230 CLR 89 House v The King (1936) 155 CLR 499
MELEWAR STEEL VENTURES LIMITED (Applicant in 40089/08) John Sotirious TERPU (First Applicant in 40090/08) VALLEYBROOK INVESTMENTS PTY LTD (Second Applicant in 40090/08) PARTIES: ANZ NOMINEES LIMITED (First Respondent in both matters) OPES PRIME STOCKBROKING LIMITED (Receivers and Managers appointed) (Administrators Appointed) (Second Respondent in 40089/08 and Fourth Respondent in 40090/08) ANZ BANKING GROUP LIMITED (Third Respondent in 40089/08 and Second Respondent in 40090/08) SOUTHEASTERN CAPITAL LIMITED (formerly called OPES PRIME SECURITIES LIMITED) (Third Respondent in 40090/08) LEVERAGED CAPITAL PTY LTD (Receivers and Managers Appointed) Administrators Appointed) (Fifth Respondent in 40090/08)
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