Australian Securities Commission v Aust-Home Investments Ltd & Ors [1995] FCA 105

Australian Securities Commission v Aust-Home Investments Ltd & Ors [1995] FCA 105

The receivers and managers were not empowered to sell the properties as intended and had misconceived the scope of their appointment; the seventh and eighth respondents, having successfully obtained injunctive relief to restrain such action, were entitled to their costs of and incidental to their notice of motion, and to the specific additional costs of perusing the receivers and managers' misconceived notice of motion.

Parties
Applicant: Australian Securities Commission; Respondents: Aust-Home Investments Limited and Others; Respondents: Receivers and Managers; Respondents: Seventh and Eighth Respondents
Jurisdiction
Australia
Judgment Date
07 March 1995
Procedural Posture
Interlocutory Application / Costs Order After Hearing on Notice of Motion
Outcome
Receivers and managers to pay the seventh and eighth respondents' costs as specified.
Legal Topics
Costs, Powers of Receivers and Managers, Injunctions
Corporate Law Insolvency Law Costs Powers of Receivers and Managers Injunctions

Case Brief

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Parties

Australian Securities Commission

Applicant

Aust-Home Investments Limited and Others

Respondents

Receivers and Managers

Respondents

Seventh and Eighth Respondents

Respondents

Procedural Posture

Interlocutory Application / Costs Order After Hearing on Notice of Motion

Legal Issues

  1. 1 Whether receivers and managers acted beyond their power in seeking to sell property during interim receivership
  2. 2 Entitlement to costs of interlocutory application restraining sale of property

Ratio Decidendi

The receivers and managers were not empowered to sell the properties as intended and had misconceived the scope of their appointment; the seventh and eighth respondents, having successfully obtained injunctive relief to restrain such action, were entitled to their costs of and incidental to their notice of motion, and to the specific additional costs of perusing the receivers and managers' misconceived notice of motion.

Court Disposition

Receivers and managers to pay the seventh and eighth respondents' costs as specified.

Orders

  • The receivers and managers pay the seventh and eighth respondents costs of and incidental to their notice of motion filed 12 March, 1993 up to and including the hearing of the motion on 19 March, 1993 and their costs of today to be taxed if not agreed.
  • The receivers and managers pay the seventh and eighth respondents the costs of perusal of the receivers and managers notice of motion and supporting material filed 16 March, 1993 to be taxed if not agreed.