A Musumeci Pty Limited t/as Better Choice Fisheries v Cosimo Marzano & ors [2011] NSWSC 928

Supreme Court New South Wales

Medium Neutral Citation: A Musumeci Pty Limited t/as Better Choice Fisheries v Cosimo Marzano & ors [2011] NSWSC 928 Hearing dates: 08/06/2011 Decision date: 08 June 2011 Jurisdiction: Equity Division - Duty List Before: Brereton J Decision: Defendants' undertaking varied to allow sale of real property subject to certain conditions. Catchwords: INJUNCTIONS - Undertakings given by defendants not to dissipate, remove or encumber property or assets - distinction between Mareva injunctions and injunctive relief to preserve subject matter of proprietary claims discussed - defendants seek variation to allow sale of real property - issue as to application of surplus from sale - whether surplus to be held in accordance with existing undertaking or released to fund defendants' defence - original undertaking contemplated defendants' would not be precluded from paying reasonable legal expenses - proposed expenditure of proceeds on legal expenses small in regards to quantum of case -undertaking varied. Cases Cited: Australian Receivables Ltd v Tekitu Pty Ltd & 2 ors [2008] NSW SC 433 Harrison Partners Construction Pty Ltd v Jevena Pty Ltd [2006] NSW SC 317 Category: Procedural and other rulings Parties: A Musumeci Pty Limited t/as Better Choice Fisheries (plaintiff) Cosimo Marzano (first defendant) RVM Investments Pty Limited (second defendant) Daley & Co Chartered Accountants (third defendant) Representation: Counsel: Mr A Vincent (plaintiff) Mr G McGrath (first and second defendants) Solicitors: Thomsons Lawyers (plaintiff) Hansons Lawyers (first and second defendants) File Number(s): 2009/291620