Australian Competition & Consumer Commission v Top Snack Foods Pty Ltd [1999] FCA 1830

Australian Competition & Consumer Commission v Top Snack Foods Pty Ltd [1999] FCA 1830

The Mareva injunction must only restrain disposition of assets which are clearly identifiable as trust property, due to the severity of enforcement measures and the requirement for certainty in specifying restrained assets.

Jurisdiction
Australia
Judgment Date
15 December 1999
Procedural Posture
Application for Mareva Injunction / Ruling on Mareva Orders
Outcome
Mareva injunction granted in part, restraining specified assets; costs orders made; liberty reserved to apply for relaxation of the orders.
Legal Topics
['mareva Injunction' 'identification of Trust Assets']
['practice and Procedure'] ['mareva Injunction' 'identification of Trust Assets']

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Procedural Posture

Application for Mareva Injunction / Ruling on Mareva Orders

Legal Issues

  1. 1 ['Whether the Court should grant a Mareva injunction restraining the disposition of uncertain trust assets' 'Appropriateness and scope of Mareva orders where specific asset identification is problematic']

Ratio Decidendi

The Mareva injunction must only restrain disposition of assets which are clearly identifiable as trust property, due to the severity of enforcement measures and the requirement for certainty in specifying restrained assets.

Court Disposition

Mareva injunction granted in part, restraining specified assets; costs orders made; liberty reserved to apply for relaxation of the orders.

Orders

  • ['Gatsios Holdings Pty Ltd restrained from disposing of properties Lots 1 and 3 in Strata Plan 51691 at Hurlstone Park, NSW.' 'Gatsios Holdings Pty Ltd restrained from dealing with other assets held as trustee for the KN Trust, including a specified bank account, except for amounts not exceeding $200 per week for...