ASIC v SIGALLA [2009] NSWSC 1205

Reported Decision : 74 ACSR 710

New South Wales Supreme Court

CITATION : ASIC v SIGALLA [2009] NSWSC 1205

HEARING DATE(S) : 09/11/09

JUDGMENT DATE : 10 November 2009

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Separate question answered: see paragraph 32

CATCHWORDS : CORPORATIONS - orders under s 1323 - where civil proceedings under Corporations Act commenced by company - freezing orders made in separate s 1323 proceedings against certain defendants on application of ASIC - application by ASIC for continuation of orders - where those defendants consent to the making of like orders in the separate proceedings commenced by the company - whether it is therefore no longer "necessary or desirable" to make orders sought by ASIC

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 79, 675(2), 675(2A), 1317DA, 1317E(1)(ja), 1317HA, 1317J(3A), 1323(1) Uniform Civil Procedure Rules 2005, rule 28.2

CATEGORY : Principal judgment

Australian Securities and Investments Commission v Banovec (No 2) [2007] NSWSC 961; (2007) 25 ACLC 1203 CASES CITED : Australian Securities and Investments Commission v Burnard [2007] NSWSC 1217; (2007) 64 ACSR 360 Australian Securities and Investments Commission v Krecichwost [2007] NSWSC 948; (2007) 64 ACSR 411 Re Richstar Enterprises Pty Ltd; Australian Securities and Investments Commission v Carey (No 3) [2006] FCA 433; (2006) 57 ACSR 307

Australian Securities and Investments Commission - Plaintiff Andrew Sigalla - First Defendant PARTIES : John Falconer - Second Defendant Michael Otten - Third Defendant BZI Pty Ltd - Fourth Defendant Dunbar Associates Ltd - Fifth Defendant