Ashmere Cove Pty Ltd v Beekink [2007] FCA 473

Ashmere Cove Pty Ltd v Beekink [2007] FCA 473

The Court found that, having regard to the contentions advanced for the first to fifth applicants, it cannot be said that their case as pleaded is manifestly untenable or has no reasonable prospect of success; accordingly, the strike out motion was dismissed with costs.

Parties
Applicant: Ashmere Cove Pty Ltd; Applicant: CG Super Pty Ltd; Applicant: Choral Pty Ltd; Applicant: Pullington Investments Pty Ltd; Applicant: Geraldine Gray in her capacity as executor for the late Constance Phyllis James; Applicant: Mantal Brewing Services Pty Ltd; Applicant: Catherine Emma Husk; Applicant: Mikayla Kim Dunne and Jennifer Anne Allen; Applicant: Blyth Nominees Pty Ltd; Applicant: John Andrew Maslen and Joan Carmel Maslen; Applicant: Creation Pty Ltd; Respondent: Peter Cornelius Beekink; Respondent: Hersh Solomon Majteles; Respondent: Gregory Phillip Gaunt; Respondent: Giovanni Maurizio Carrelo (Liquidator) of Knightsbridge Managed Funds Limited (In Liq); Respondent: Knightsbridge Managed Funds Limited (In Liq)
Jurisdiction
Australia
Judgment Date
30 March 2007
Procedural Posture
Motion to Strike Out / Interlocutory Application Motion to Strike Out Statement of Claim
Outcome
Strike out motion dismissed with costs
Legal Topics
Strike Out Applications, Directors' Duties, Registered Managed Investment Schemes, Misleading or Deceptive Conduct
Practice and Procedure Corporations Law Strike Out Applications Directors' Duties Registered Managed Investment Schemes Misleading or Deceptive Conduct

Case Brief

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Parties

Ashmere Cove Pty Ltd

Applicant

CG Super Pty Ltd

Applicant

Choral Pty Ltd

Applicant

Pullington Investments Pty Ltd

Applicant

Geraldine Gray in her capacity as executor for the late Constance Phyllis James

Applicant

Mantal Brewing Services Pty Ltd

Applicant

Catherine Emma Husk

Applicant

Mikayla Kim Dunne and Jennifer Anne Allen

Applicant

Blyth Nominees Pty Ltd

Applicant

John Andrew Maslen and Joan Carmel Maslen

Applicant

Creation Pty Ltd

Applicant

Peter Cornelius Beekink

Respondent

Hersh Solomon Majteles

Respondent

Gregory Phillip Gaunt

Respondent

Giovanni Maurizio Carrelo (Liquidator) of Knightsbridge Managed Funds Limited (In Liq)

Respondent

Knightsbridge Managed Funds Limited (In Liq)

Respondent

Procedural Posture

Motion to Strike Out / Interlocutory Application Motion to Strike Out Statement of Claim

Legal Issues

  1. 1 Whether the substituted statement of claim discloses no reasonable cause of action as pleaded by the first to fifth applicants
  2. 2 Whether the first to fifth applicants' losses are sufficiently pleaded to withstand a motion to strike out

Ratio Decidendi

The Court found that, having regard to the contentions advanced for the first to fifth applicants, it cannot be said that their case as pleaded is manifestly untenable or has no reasonable prospect of success; accordingly, the strike out motion was dismissed with costs.

Court Disposition

Strike out motion dismissed with costs

Orders

  • The first to third respondents' motion filed 20 November 2006 is dismissed.
  • The first to third respondents are to pay the first to fifth applicants' costs of the motion so far as they relate to the preparation and filing of revised submissions in answer to the first to third respondents' revised submissions.