OXC Bidco Pty Ltd v Dickson [2016] NSWSC 968

OXC Bidco Pty Ltd v Dickson [2016] NSWSC 968

The amount of the freezing order is reduced to $2.25 million, as the evidence and quantitative analysis do not support a higher likelihood of plaintiffs recovering more damages and they are unlikely, on the current material, to make out a 'no transaction' case.

Parties
First Plaintiff: OXC Bidco Pty Ltd; Second Plaintiff: Obex (NZ) Limited; Third Plaintiff: Obex Medical Holdings Pty Ltd; First Defendant: Paul Gregory Dickson; Second Defendant: Dianne Dickson; Respondent: Fandola Investments Pty Ltd
Jurisdiction
Australia
Judgment Date
12 July 2016
Procedural Posture
Equity / Interlocutory Application to Vary Freezing Order
Outcome
Freezing order varied; limit reduced
Legal Topics
Freezing Orders, Injunctions, Damages, Breach of Warranty
Practice and Procedure Freezing Orders Injunctions Damages Breach of Warranty

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Parties

OXC Bidco Pty Ltd

First Plaintiff

Obex (NZ) Limited

Second Plaintiff

Obex Medical Holdings Pty Ltd

Third Plaintiff

Paul Gregory Dickson

First Defendant

Dianne Dickson

Second Defendant

Fandola Investments Pty Ltd

Respondent

Procedural Posture

Equity / Interlocutory Application to Vary Freezing Order

Legal Issues

  1. 1 Whether the limit of the freezing order should be varied from $28.4 million to $2.25 million
  2. 2 Assessment of likelihood of plaintiffs proving 'no transaction' case
  3. 3 Assessment of likely damages recoverable by plaintiffs for breach of warranties

Ratio Decidendi

The amount of the freezing order is reduced to $2.25 million, as the evidence and quantitative analysis do not support a higher likelihood of plaintiffs recovering more damages and they are unlikely, on the current material, to make out a 'no transaction' case.

Court Disposition

Freezing order varied; limit reduced

Orders

  • Freezing order varied by substituting $2.25 million for $28,423,046.84 in paragraphs 6(a) and 12(a)(i)
  • Further directions to be invited pending listing on 5 August 2016