Gap Constructions Pty Limited & Anor v Vigar Pty Limited & Ors [2011] NSWSC 1205

Supreme Court New South Wales

Medium Neutral Citation: Gap Constructions Pty Limited & Anor v Vigar Pty Limited & Ors [2011] NSWSC 1205 Hearing dates: Tuesday, 27 September 2011 Decision date: 27 September 2011 Jurisdiction: Equity Division - Duty List Before: Brereton J Decision: Injunction restraining fourth defendant from dealing with or disposing of certain moneys and shares to continue until final hearing or further order. Catchwords: INJUNCTIONS - Interlocutory injunctions - plaintiff seeks continuation of interlocutory orders restraining defendants from dealing with certain moneys and shares - moneys and shares said to be traceable from breach of fiduciary duty by defendants - plaintiffs question propriety of expenditure by fourth defendant and accuracy and completeness of information provided as to expenditure - injunction deals with assets the subject matter of proceedings - principle applicable to Mareva injunctions that party be allowed to make expenditure for living expenses and legal costs not applicable where injunction deals with subject matter of claim - injunction sought specific to such moneys and shares not to totality of defendants' assets - defendants' have substantially dissipated moneys by engaging in liberal level of living expenses - unacceptable situation ought not continue - injunction continued. Legislation Cited: (CTH) Corporations Act (2001), s 182,s 183 Cases Cited: Australian Receivables Limited v Tekitu Pty Limited [2008] NSWSC 433 Badman v Drake [2008] NSWSC 968 Brimaud v Honeysett Instant Print Pty Ltd (1988) 217 ALR 44 Category: Procedural and other rulings Parties: Gap Constructions Pty Limited (first plaintiff) Peter Bega (second plaintiff) Vigar Pty Limited (first defendant) Bega Pty Limited (second defendant) Con Bosganas (third defendant) Bugong Pty Limited (fourth defendant) Representation: Counsel: Mr A Hourigan (plaintiffs) Mr P Bruckner (defendants) Solicitors: O'Neill Partners (plaintiffs) Bolzan & Dimitri (first, second & third defendants) MacRae Lawyers (fourth defendant) File Number(s): 2011/198502