International Skin Care Suppliers Pty Ltd v Whyte [2011] NSWSC 46

International Skin Care Suppliers Pty Ltd v Whyte [2011] NSWSC 46

A serious question exists as to whether the second defendant acquired the business of Indio in breach of the bank's charge and with knowledge of the bank's interest, and the circumstances create a sufficient apprehension of asset dissipation to justify freezing orders without arbitrary monetary limits on expenses.

Jurisdiction
Australia
Judgment Date
11 February 2011
Procedural Posture
Interlocutory Application / Interlocutory Hearing
Outcome
Freezing and related interlocutory orders made; costs awarded to plaintiffs.
Legal Topics
['freezing Orders' 'asset Dissipation' 'receivership' 'interlocutory Relief']
['equity' 'corporations Law' 'civil Procedure'] ['freezing Orders' 'asset Dissipation' 'receivership' 'interlocutory Relief']

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 Application / Interlocutory Hearing

Legal Issues

  1. 1 ["Whether the second defendant acquired assets in breach of the bank's charge with knowledge of the mortgagee's interest" 'Whether there is a risk of asset dissipation justifying freezing orders']

Ratio Decidendi

A serious question exists as to whether the second defendant acquired the business of Indio in breach of the bank's charge and with knowledge of the bank's interest, and the circumstances create a sufficient apprehension of asset dissipation to justify freezing orders without arbitrary monetary limits on expenses.

Court Disposition

Freezing and related interlocutory orders made; costs awarded to plaintiffs.

Orders

  • ["Orders 1 to 11 in the short minutes of order initialed and dated; orders restraining dealing with business assets subject to carve-outs for ordinary business and legal expenses (without specific monetary limits); order for second defendant to keep accurate and complete records of sales; order for disclosure of...