Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 4) [2013] FCA 318

Adamson failed to demonstrate exceptional circumstances justifying the variation or setting aside of the interlocutory injunctive orders pursuant to r 39.05, as the orders were properly within power, necessary, and not oppressive or disproportionate given the context and seriousness of ASIC's allegations.

Parties: Plaintiff: Australian Securities and Investments Commission; First Defendant: ActiveSuper Pty Ltd (ACN 125 423 574); Second Defendant: ACN 143 832 053 Pty Ltd (ACN 143 832 053); Third Defendant: Jason Grant Burrows; Fourth Defendant: Justin Luke Gibson; Fifth Defendant: U.S. Realty Investments #1, LLC (L-1666059-6); Sixth Defendant: U.S. Realty Investments #2, LLC (L-1666058-5); Seventh Defendant: U.S. Realty Investments #3, LLC (L-1668734-4); Eighth Defendant: U.S. Realty Investments #4, LLC (L-1668736-6); Ninth Defendant: Syndicated Property Group Ltd; Tenth Defendant: Worldwide Property Opportunities Ltd; Eleventh Defendant: Cayco Management; Twelfth Defendant: MOGS Pty Ltd; Thirteenth Defendant: Jeffrey George; Fourteenth Defendant: Graeme Stonehouse; Fifteenth Defendant: Marina Gore; Sixteenth Defendant: Mark Gordon Adamson; Seventeenth Defendant: Craig Kirrin Gore
Jurisdiction: Australia
Judgment Date: 10 April 2013
Procedural Posture: Interlocutory Application / Determination of Application to Set Aside or Vary Existing Interlocutory Orders
Outcome: Application dismissed (except for the amendment to paragraph 5(f) made on 28 February 2013)
Legal Topics: Interlocutory Injunctions, Variation or Setting Aside of Orders, Powers of Federal Court, Disclosure Obligations, Restraint of Funds, Passport and Travel Restrictions

Corporations Law Equity Injunctions Interlocutory Injunctions Variation or Setting Aside of Orders Powers of Federal Court Disclosure Obligations Restraint of Funds +1 more

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Parties

Australian Securities and Investments Commission

Plaintiff

ActiveSuper Pty Ltd (ACN 125 423 574)

First Defendant

ACN 143 832 053 Pty Ltd (ACN 143 832 053)

Second Defendant

Jason Grant Burrows

Third Defendant

Justin Luke Gibson

Fourth Defendant

U.S. Realty Investments #1, LLC (L-1666059-6)

Fifth Defendant

U.S. Realty Investments #2, LLC (L-1666058-5)

Sixth Defendant

U.S. Realty Investments #3, LLC (L-1668734-4)

Seventh Defendant

U.S. Realty Investments #4, LLC (L-1668736-6)

Eighth Defendant

Syndicated Property Group Ltd

Ninth Defendant

Worldwide Property Opportunities Ltd

Tenth Defendant

Cayco Management

Eleventh Defendant

MOGS Pty Ltd

Twelfth Defendant

Jeffrey George

Thirteenth Defendant

Graeme Stonehouse

Fourteenth Defendant

Marina Gore

Fifteenth Defendant

Mark Gordon Adamson

Sixteenth Defendant

Craig Kirrin Gore

Seventeenth Defendant

Procedural Posture

Interlocutory Application / Determination of Application to Set Aside or Vary Existing Interlocutory Orders

Legal Issues

1 Whether exceptional circumstances exist to justify varying or setting aside interlocutory injunctions against the Sixteenth Defendant under Federal Court Rules 2011 (Cth) r 39.05
2 Scope and appropriateness of injunctive relief, including restraints on dealing with funds, document retention, offers of securities, financial services conduct, and travel

Ratio Decidendi

Court Disposition

Application dismissed (except for the amendment to paragraph 5(f) made on 28 February 2013)

Orders

Save for the order made on 28 February 2013, the sixteenth defendant's interlocutory application dated 12 February 2013 is dismissed.
Costs reserved.