Aushome Developments Pty Ltd v Ausline Group Pty Ltd [2009] NSWSC 1477

Aushome Developments Pty Ltd v Ausline Group Pty Ltd [2009] NSWSC 1477

As the sale contracts are not impugned and preservation of proceeds will sufficiently protect the plaintiff, the interlocutory injunction restraining completion should be discharged and replaced by orders for preservation of proceeds; this will not jeopardise plaintiff's claim for final relief.

Parties
Plaintiff: Aushome Developments Pty Ltd; First Defendant: Ausline Group Pty Ltd; Second Defendant: Jianbo Yu
Jurisdiction
Australia
Judgment Date
10 December 2009
Procedural Posture
Interlocutory Application / Hearing on Notice of Motion to Dissolve Interlocutory Injunction
Outcome
Interlocutory injunction discharged; orders for preservation of proceeds substituted; plaintiff to pay defendants' costs.
Legal Topics
Interlocutory Injunctions, Oppression, Shareholder Remedies, Preservation of Sale Proceeds
Equity Corporations Interlocutory Injunctions Oppression Shareholder Remedies Preservation of Sale Proceeds

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Parties

Aushome Developments Pty Ltd

Plaintiff

Ausline Group Pty Ltd

First Defendant

Jianbo Yu

Second Defendant

Procedural Posture

Interlocutory Application / Hearing on Notice of Motion to Dissolve Interlocutory Injunction

Legal Issues

  1. 1 Whether the interlocutory injunction restraining completion of contracts for sale should be discharged
  2. 2 Whether preservation of proceeds of sale adequately protects the plaintiff's position
  3. 3 Whether the contracts for sale are impugned in the substantive proceedings

Ratio Decidendi

As the sale contracts are not impugned and preservation of proceeds will sufficiently protect the plaintiff, the interlocutory injunction restraining completion should be discharged and replaced by orders for preservation of proceeds; this will not jeopardise plaintiff's claim for final relief.

Court Disposition

Interlocutory injunction discharged; orders for preservation of proceeds substituted; plaintiff to pay defendants' costs.

Orders

  • Orders in accordance with paragraphs 1 to 7 of Notice of Motion filed 1 December 2009.
  • Plaintiff to pay defendants' costs of the motion.