In the matter of Colorado Products Pty Limited (in prov liq) [2013] NSWSC 611

In the matter of Colorado Products Pty Limited (in prov liq) [2013] NSWSC 611

Orders for freezing order without exceptions are refused; Defendants permitted exceptions for living, legal, and business expenses; funds held in Court to be paid out to Defendants' solicitors' trust account; Defendants released from undertakings on giving new undertakings; Plaintiffs to provide $350,000 security for Defendants' future costs; stay if not provided; leave granted for Further Amended Statement of Claim; specified discovery categories set aside.

Jurisdiction
Australia
Judgment Date
22 May 2013
Procedural Posture
Interlocutory Applications / Judgment on Multiple Interlocutory Applications
Outcome
Applications determined with orders made as specified.
Legal Topics
['freezing Order' 'payment Out of Court' 'amending Pleadings' 'security for Costs' 'discovery']
['equity' 'corporations Law' 'civil Procedure'] ['freezing Order' 'payment Out of Court' 'amending Pleadings' 'security for Costs' 'discovery']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Interlocutory Applications / Judgment on Multiple Interlocutory Applications

Legal Issues

  1. 1 ['Whether freezing order should be made without exceptions for living, legal, and business expenses' 'Whether funds held in Court should be paid out' 'Whether Defendants should be released from undertakings or permitted to vary them' "Whether Plaintiffs should give security for Defendants' future costs" "Extent of discovery and review of Registrar's decision" 'Leave to file Further Amended Statement of Claim']

Ratio Decidendi

Orders for freezing order without exceptions are refused; Defendants permitted exceptions for living, legal, and business expenses; funds held in Court to be paid out to Defendants' solicitors' trust account; Defendants released from undertakings on giving new undertakings; Plaintiffs to provide $350,000 security for Defendants' future costs; stay if not provided; leave granted for Further Amended Statement of Claim; specified discovery categories set aside.

Court Disposition

Applications determined with orders made as specified.

Orders

  • ["Monies held in Court paid out to Defendants' solicitors' trust account." "Specified amount paid from Yau & Wang trust account to Defendants' solicitors' trust account." 'Release of First Defendant from undertakings to allow payment of specified amounts to Town & Country Real Estate $29,034, Levesons Hired...