Australian Securities Commission v MacLeod, R.J. & Ors [1995] FCA 458

Australian Securities Commission v MacLeod, R.J. & Ors [1995] FCA 458

The Commission's contempt costs could be paid by the receivers only out of assets beneficially owned by Mr. MacLeod, if any, because property in the receivers' hands purchased with investor funds was not beneficially owned by him and the contempt proceedings, although related to the litigation that produced the fund, did not augment or preserve that fund.

Jurisdiction
Australia
Judgment Date
30 June 1995
Procedural Posture
Notice of Motion for Costs / Application for Payment of Costs the Subject of Orders Made in Contempt Proceedings and Subsequent Appeal and Application for Leave to Appeal
Outcome
The applicant's application for costs was granted on a limited basis.
Legal Topics
['payment of Costs by Receivers' 'assets Beneficially Owned by Respondent' 'investor Funds' 'preservation of Fund' 'costs of Contempt Proceedings']
['civil Procedure' 'costs' 'contempt' 'receivership'] ['payment of Costs by Receivers' 'assets Beneficially Owned by Respondent' 'investor Funds' 'preservation of Fund' 'costs of Contempt Proceedings']

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 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Notice of Motion for Costs / Application for Payment of Costs the Subject of Orders Made in Contempt Proceedings and Subsequent Appeal and Application for Leave to Appeal

Legal Issues

  1. 1 ['Whether costs ordered in favour of the Australian Securities Commission in contempt proceedings and related appellate proceedings should be paid by the receivers out of the assets of the respondents.' 'Whether those costs could properly be paid out of property held by receivers that was legally owned by Mr. MacLeod but beneficially belonged to investors.']

Ratio Decidendi

The Commission's contempt costs could be paid by the receivers only out of assets beneficially owned by Mr. MacLeod, if any, because property in the receivers' hands purchased with investor funds was not beneficially owned by him and the contempt proceedings, although related to the litigation that produced the fund, did not augment or preserve that fund.

Court Disposition

The applicant's application for costs was granted on a limited basis.

Orders

  • ["The applicant's application for costs be granted in terms of paragraph 1 of the notice of motion filed 29 June, 1995, save that the costs in question be paid by the receivers out of the assets beneficially owned by the first respondent, if any." "The respondents pay the applicant's costs of and incidental to the...