Australian Securities and Investments Commission v P.J.C.B. International Ltd [2009] NSWSC 583

New South Wales Supreme Court

CITATION : Australian Securities and Investments Commission v P.J.C.B. International Ltd [2009] NSWSC 583

HEARING DATE(S) : 15, 16 June 2009 JURISDICTION : Equity

JUDGMENT OF : Austin J

EX TEMPORE JUDGMENT DATE : 16 June 2009

DECISION : Direction to file statement of claim extended to 20 November 2009

CATCHWORDS : PRACTICE AND PROCEDURE - direction to plaintiff to file statement of claim - application for extension of time - plaintiff has obtained substantial interim orders against defendants including asset preservation orders - plaintiff's further investigations lead to it considering whether to make fundamental changes to the scope of its case and to join additional defendants - plaintiff's determination of whether to do so depends on concluding interviews with some defendants, who are ill - court grants extension of time as sought, while expressing concerns - concern about whether, if it were so, it would be oppressive for a plaintiff to persist with proceedings in which an onerous interlocutory regime has been established, after deciding to alter the nature of its case and the class of defendants to the proceedings to such a degree as to undermine the basis of the interlocutory relief already granted

CASES CITED : ASIC v PJCB International Ltd [2009] NSWSC 34

Australian Securities and Investments Commission (Plaintiff) P.J.C.B. International Ltd (First Defendant) J & B Financial Group Pty Ltd (Second Defendant) Destiny Holdings Ltd (Third Defendant) Brian John Wood (Fourth Defendant) Barry Frank Jennings (Fifth Defendant) Technocash Pty Ltd (Sixth Defendant) Idylic Solutions Ltd (Seventh Defendant) PARTIES : Upton Ltd (Eighth Defendant) Jimmy Truong (Ninth Defendant) Con Koutsoukos (Tenth Defendant) Idylic Solutions Pty Ltd (Eleventh Defendant) Jennifer Trinh (Twellfth Defendant) Geneva Financial Ltd (Thirteenth Defendant) Jachqueline Hobbs (Fourteenth Defendant) Brenda Hobbs (Fifteenth Defendant) Unifund Ltd (Sixteenth Defendant) David John Hobbs (Seventeenth Defendant)