In the matter of Ikon Group Limited [2015] NSWSC 980

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Ikon Group Limited [2015] NSWSC 980 Hearing dates: 7-8, 13 May 2015 Date of orders: 13 May 2015 Decision date: 13 May 2015 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Application for interlocutory relief dismissed. Catchwords: CORPORATIONS – interlocutory relief under (Cth) Corporations Act 2001, s 1324 – injunction restraining directors from contravening Corporations Act – breach of directors' duties – whether seriously arguable case as to past or threatened future contraventions of directors' duties – held, no seriously arguable case as to threatened contraventions to warrant interlocutory relief. Legislation Cited: (Cth) Corporations Act 2001, s 180, s 181, s 182, s 1017B(1), s 1021B(1), s 1324 Cases Cited: Fayad v Bellpac Pty Ltd [2004] NSWSC 755 Oates v Consolidated Capital Services Ltd [2009] NSWCA 183; (2009) 76 NSWLR 69 Oates v Hawkins [2010] NSWSC 491 Category: Procedural and other rulings Parties: Ikon Group Limited (plaintiff) Ikon (Australia) Pty Limited (first defendant) Naser Taher (second defendant) Multitrade Financial Group Limited (third defendant) Yehya El-Taher (fourth defendant) Dominic Lim (fifth defendant) Representation: Counsel: M Condon SC w M Karram (plaintiff) P S Braham SC w K J Williams (first and second defendants) A d'Arville (fifth defendant)