In the matter of Alleta Pty Ltd [2015] NSWSC 2064

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Alleta Pty Ltd [2015] NSWSC 2064 Hearing dates: 5 June 2015 Date of orders: 05 June 2015 Decision date: 05 June 2015 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Defendants restrained from dealing with the proceeds of sale of the property except as specified until further order of the Court, but not from selling property. Catchwords: EQUITY – equitable remedies – injunctions – application for injunction to restrain auction sale of property – whether serious question to be tried – dispute as to beneficial ownership of shares – balance of convenience – whether prejudice to defendant of granting injunction outweighs prejudice to plaintiff of not granting injunction – where prospect of appreciation of property speculative – impact of mortgage outgoings on property's value – whether risk of sale at undervalue – held, application for injunction restraining sale refused; injunction retraining disbursement of proceeds granted. Legislation Cited: (CTH) Corporations Act 2001, s 128 (NSW) Real Property Act 1900, s 57(2)(b) Category: Procedural and other rulings Parties: Mary Melhem (plaintiff) Alleta Pty Ltd (ACN 160 069 319) (first defendant) Stella Tzonis (second defendant) Representation: Counsel: C O'Neill (plaintiff) C Alexander (defendants)

Solicitors: Swaab Attorneys (plaintiff) Vizzone Ruggero Twigg Lawyers (defendants) File Number(s): 2015/163704