In the matters of PSI-Kinetix Pty Limited (ACN 609 106 096) and; PSI Pacific Managed Services Pty Limited (ACN 092 623 679) [2017] NSWSC 317

In the matters of PSI-Kinetix Pty Limited (ACN 609 106 096) and; PSI Pacific Managed Services Pty Limited (ACN 092 623 679) [2017] NSWSC 317

Having regard to the history of the matter, the circumstances of the purported appointment of managing controllers pursuant to purported security interests, the remaining defendants' acknowledgement that the appointment was invalid, their agreement to remove the PPS Register registration and take other steps, and their consent to relief, it was appropriate to make final injunctive consent orders, but references to related bodies corporate were deleted and the removal obligation was imposed on the second defendant.

Jurisdiction
Australia
Judgment Date
27 March 2017
Procedural Posture
Application for Consent Orders and Final Injunctive Relief / Principal Judgment; Orders by Consent
Outcome
Final injunctive orders made without admissions and by consent, subject to amendments; plaintiffs and first, second, third and fifth defendants to pay their own costs.
Legal Topics
['consent Orders' 'final Injunctive Relief' 'personal Property Securities Register' 'security Interests' 'managing Controller Appointment']
['civil Procedure' 'personal Property Securities' 'corporations'] ['consent Orders' 'final Injunctive Relief' 'personal Property Securities Register' 'security Interests' 'managing Controller Appointment']

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Procedural Posture

Application for Consent Orders and Final Injunctive Relief / Principal Judgment; Orders by Consent

Legal Issues

  1. 1 ['Whether it was appropriate to make consent orders granting final injunctive relief restraining further PPS Register financing statements and enforcement of purported security interests.' 'Whether proposed injunctive orders should extend to related bodies corporate of the first, second, third and fifth defendants.' 'Whether the obligation to remove any PPS Register registration made in breach of the injunction should be imposed on the second defendant.']

Ratio Decidendi

Having regard to the history of the matter, the circumstances of the purported appointment of managing controllers pursuant to purported security interests, the remaining defendants' acknowledgement that the appointment was invalid, their agreement to remove the PPS Register registration and take other steps, and their consent to relief, it was appropriate to make final injunctive consent orders, but references to related bodies corporate were deleted and the removal obligation was imposed on the second defendant.

Court Disposition

Final injunctive orders made without admissions and by consent, subject to amendments; plaintiffs and first, second, third and fifth defendants to pay their own costs.

Orders

  • ['Subject to further order, the first, second, third and fifth defendants by themselves, their servants and agents each be restrained from registering or causing to be registered on the Personal Property Securities Register any further financing statement in respect of any security interest or purported security...