In the matter of Trio Capital Ltd (admins apptd) [2010] NSWSC 454

Reported Decision : 239 FLR 99

New South Wales Supreme Court

CITATION : In the matter of Trio Capital Ltd (admins apptd) [2010] NSWSC 454

HEARING DATE(S) : 10 May 2010

JUDGMENT DATE : 13 May 2010

JURISDICTION : Equity

JUDGMENT OF : Ward J

DECISION : Applicants' Notice of Motion dismissed

CATCHWORDS : PRACTICE AND PROCEDURE - application to set aside Order for Production - Order for Production addressed to ASIC requiring disclosure of documents provided to it by Hong Kong Securities and Futures Commission in connection with enquires made on ASIC's behalf in Hong Kong in relation to certain fund management schemes and individuals - CORPORATIONS ACT - whether secrecy provisions in s 127 of Corporations Act 2001 prevented disclosure under Order for Production - PRIVILEGE - whether public interest immunity privilege available to restrain production - HELD - application dismissed - production to court under Order for Production is not prevented by s 127 - public interest immunity does not apply to prevent disclosure

Australian Securities and Investment Commission Act 2001 (Cth) LEGISLATION CITED : Corporations Act 2001 (Cth) Evidence Act 1995 (NSW) Securities and Futures Ordinance (HK)

Johns v Australian Securities Commission (1993) 178 CLR 408 Katsuno v R [1999] HCA 50; 199 CLR 40; 166 ALR 159 Marcel v Commissioner of Police (1992) Ch 225 CASES CITED : Maronis Holdings Ltd v Nippon Credit Australia Ltd & ors [2000] NSWSC 138 Sankey v Whitlam [1978] HCA 43; (1978) 142 CLR 1 Shipley v Masu Financial Management [2008] NSWSC 1187; (2008) 68 ACSR 412 Somerville v ASIC [1995] FCA 1102