ASIC v Elm Financial Services Pty Ltd & Ors [2005] NSWSC 1065

ASIC v Elm Financial Services Pty Ltd & Ors [2005] NSWSC 1065

The court, on the basis of statements of agreed facts, was satisfied that each defendant committed contraventions of the Corporations Act concerning officer duties, fundraising, misleading conduct, and investor protection. The statutory requirements for declarations and disqualification were met; orders as to disqualification, costs, and compensation were made by consent.

Jurisdiction
Australia
Judgment Date
21 October 2005
Procedural Posture
Civil / Final Judgment and Orders
Legal Topics
['officer Duties' 'contraventions' 'disqualification' 'investor Protection' 'financial Services' 'misleading Conduct']
['corporations' 'equity'] ['officer Duties' 'contraventions' 'disqualification' 'investor Protection' 'financial Services' 'misleading Conduct']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Civil / Final Judgment and Orders

Legal Issues

  1. 1 ['Whether defendants contravened provisions of the Corporations Act relating to investor protection, officer duties, fundraising and misleading/deceptive conduct' 'Whether agreed facts warrant declarations of contravention and disqualification orders' 'Whether court should give effect to penalty orders agreed by the parties']

Ratio Decidendi

The court, on the basis of statements of agreed facts, was satisfied that each defendant committed contraventions of the Corporations Act concerning officer duties, fundraising, misleading conduct, and investor protection. The statutory requirements for declarations and disqualification were met; orders as to disqualification, costs, and compensation were made by consent.

Court Disposition

Orders

  • []