In the matter of Trio Capital Limited (in liquidation) [2012] NSWSC 1595

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Trio Capital Limited (in liquidation) [2012] NSWSC 1595 Hearing dates: 2 November 2012 Decision date: 05 November 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made restraining person from leaving Australia on interim basis - warrant for apprehension of person issued and stayed subject to condition. Orders to be entered forthwith. Catchwords: CORPORATIONS - Investigations - Possible contraventions of Corporations Act 2001 (Cth) - Whether evidence establishes that investigations are being carried out under Australian Securities and Investments Commission Act 2001 (Cth) in relation to act or omission that constitutes or may constitute a contravention of Corporations Act 2001 (Cth) - Whether Court satisfied that a person is about to leave the jurisdiction or Australia in order to avoid being examined about the affairs of a company being wound up in insolvency or by the court - Whether evidence establishes a proper case for issue of a warrant for arrest to avoid the frustration of examination powers conferred on liquidators. Legislation Cited: - Australian Securities and Investments Commission Act 2001 (Cth) - Corporations Act 2001 (Cth) ss 486B, 1323, 1323(1)(k) Cases Cited: - Australian Securities and Investments Commission v Australian Investors Forum Pty Ltd [2003] NSWSC 130; (2003) 44 ACSR 503 - Australian Securities and Investments Commission v Hawley [2008] FCA 1423; (2008) 250 ALR 57; 68 ACSR 79 - Australian Securities and Investments Commission v Krecichwost [2007] NSWSC 948; (2007) 213 FLR 314; 64 ACSR 411 - ASIC v Ludgates Corporate and Investment Advisory Services Pty Ltd [2003] FCA 625; (2003) 21 ACLC 1366 - Beach Petroleum NL v Johnson (1992) 9 ACSR 404; 11 ACLC 75 - Quest Enterprises (NSW) Pty Ltd v Cassaniti [2007] NSWSC 519 - Re Rainbow Systems of Australia Pty Ltd; Wily v Parker (1996) 21 ACSR 171 - Re Richstar Enterprises Pty Ltd; Australian Securities and Investments Commission v Carey (No 3) [2006] FCA 433; (2006) 232 ALR 577; 57 ACSR 307 Category: Interlocutory applications Parties: Stephen James Parbery, Mark Robinson and Nicholas Martin as Liquidators of Trio Capital Limited (in liquidation) (Plaintiffs) Representation: Counsel: N. Bender (Plaintiffs) Solicitors: Church & Grace (Plaintiffs) File Number(s): 12/289567