ASIC v Sydney Investment House Equities Pty Ltd [2009] NSWSC 107

ASIC v Sydney Investment House Equities Pty Ltd [2009] NSWSC 107

Because Mr Goulding had been informed of the fixtures, was plainly aware the matter was to proceed, the Court had his written submissions, and further delay was impracticable given the judge's impending retirement, the penalty and costs hearing should continue in his absence. The proposed correction was permissible under the slip rule because it did not introduce new matter but corrected an accidental omission to give effect in the formal finding and declaration to findings already made at [172] and [180] of the substantive judgment.

Jurisdiction
Australia
Judgment Date
02 March 2009
Procedural Posture
Procedural and Other Ruling / Application to Proceed With Penalty and Costs Hearing in Absence of Defendant and Application Under Slip Rule
Outcome
Penalty and costs hearing to proceed in the absence of Mr Goulding; slip rule correction to be made.
Legal Topics
['proceeding in Absence of Defendant' 'penalty and Costs Hearing' 'slip Rule' 'correction of Judgment or Orders' "directors' Duties"]
['civil Procedure' 'equity' 'corporations Law'] ['proceeding in Absence of Defendant' 'penalty and Costs Hearing' 'slip Rule' 'correction of Judgment or Orders' "directors' Duties"]

Case Brief

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Procedural Posture

Procedural and Other Ruling / Application to Proceed With Penalty and Costs Hearing in Absence of Defendant and Application Under Slip Rule

Legal Issues

  1. 1 ['Whether the penalty and costs hearing should proceed in the absence of Mr Goulding after notice of the hearing.' 'Whether the judgment and declaration should be corrected under the slip rule to reflect findings already made about all of the Equities Loan Agreements.']

Ratio Decidendi

Because Mr Goulding had been informed of the fixtures, was plainly aware the matter was to proceed, the Court had his written submissions, and further delay was impracticable given the judge's impending retirement, the penalty and costs hearing should continue in his absence. The proposed correction was permissible under the slip rule because it did not introduce new matter but corrected an accidental omission to give effect in the formal finding and declaration to findings already made at [172] and [180] of the substantive judgment.

Court Disposition

Penalty and costs hearing to proceed in the absence of Mr Goulding; slip rule correction to be made.

Orders

  • ["The hearing on penalty and costs was to continue in Mr Goulding's absence." 'The erroneous portion of the reasons was to be withdrawn and a formal finding and amended declaration substituted in the form sought by ASIC.']