NSW Caselaw
Reported Decision : 75 ACSR 1 236 FLR 1
New South Wales Supreme Court
CITATION : Australian Securities and Investments Commission v Rich [2009] NSWSC 1229 This decision has been amended. Please see the end of the judgment for a list of the amendments.
HEARING DATE(S) : 6 – 8, 13 – 17, 20 – 23, 29 - 30 September 2004, 5 – 8, 11 – 15, 18 – 20, 25 – 29 October 2004, 1 – 5, 8 – 10, 12, 15 – 18, 22 – 25, 29 - 30 November 2004, 1 – 2, 7, 14 – 15 December 2004, 31 January 2005, 4, 7, 16, 28 February 2005, 7 – 8, 10 – 11, 21 – 23, 30 March 2005, 5 – 7, 18 April 2005, 2, 5, 11, 16 – 20,23 – 24, 27 May 2005, 15 – 16, 20 – 22 June 2005, 4 – 5, 7 – 8, 11 – 15, 25 – 26 July 2005, 8 – 9, 11 August 2005; 26 – 29 September 2005, 4 – 7, 10 – 11, 14, 17 – 21, 25 – 28, 31 October 2005, 1, 3 – 4, 9 – 10, 14 – 18, 22 – 24, 28, 30 November 2005, 1 –2, 5 – 6, 8 – 9, 12 - 13, 16 December 2005, 30 January 2006, 1 – 2, 6 – 9, 13 February 2006, 5 April 2006, 2, 13 – 16, 19 – 22, 26 – 29 June 2006, 3 – 6, 10 – 13, 17 – 18, 20, 24 – 26, 28 July 2006, 1 – 3, 7 – 9, 14, 17, 21 – 23, 28 – 31 August 2006, 1, 4 – 7, 11 – 13, 15, 18, 20 – 21, 27 November 2006, 5 – 6, 14 – 15 February 2007, 30 March 2007, 21 May 2007, 6 – 8, 20 - 21 August 2007 London hearing 24 – 26, 30 – 31 August 2005, 1 – 2, 5 – 6 September 2005
JUDGMENT DATE : 18 November 2009
JURISDICTION : Equity
JUDGMENT OF : Austin J
DECISION : Judgment to be entered for the first and fourth defendants
CATCHWORDS : CORPORATIONS - civil penalty proceedings - statutory duty of care and diligence - standard of care - duty of skill - whether res ipsa loquitur applicable - scope of "business judgment rule" - application of statutory standard to financial management of large international corporate group over a period of months - PRACTICE AND PROCEDURE - pleadings - principles regarding unpleaded case and lack of particulars - application to complex pleading and long trial - EVIDENCE - onus and standard of proof in civil penalty proceedings - rules in Blatch v Archer, Jones v Dunkel and Browne v Dunn in civil penalty proceedings - duty of fairness of regulator as plaintiff in civil penalty proceedings
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