Marango Investments Pty Ltd v Kingdom Towers 4 Pty Ltd [2019] NSWSC 801

Marango Investments Pty Ltd v Kingdom Towers 4 Pty Ltd [2019] NSWSC 801

The plaintiff has a good arguable case for damages and demonstrated risk of asset dissipation through evidence of property encumbrance, listing for sale, and significant share transfers, with no explanation provided by defendants; accordingly, the Court continues the freezing order on agreed terms pending determination of proceedings.

Jurisdiction
Australia
Judgment Date
27 June 2019
Procedural Posture
Civil / Interlocutory Application for Freezing Order
Outcome
Freezing order continued against defendants pending determination or further order; costs to be plaintiff's in the cause.
Legal Topics
['interim Preservation' 'freezing Orders' 'interlocutory Relief']
['civil Procedure' 'equity'] ['interim Preservation' 'freezing Orders' 'interlocutory Relief']

Case Brief

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Procedural Posture

Civil / Interlocutory Application for Freezing Order

Legal Issues

  1. 1 ['Whether the plaintiff has a good arguable case for final relief' "Whether there is sufficient risk that the defendants' assets will be dissipated to justify a freezing order"]

Ratio Decidendi

The plaintiff has a good arguable case for damages and demonstrated risk of asset dissipation through evidence of property encumbrance, listing for sale, and significant share transfers, with no explanation provided by defendants; accordingly, the Court continues the freezing order on agreed terms pending determination of proceedings.

Court Disposition

Freezing order continued against defendants pending determination or further order; costs to be plaintiff's in the cause.

Orders

  • ["First and second defendants restrained from alienating, encumbering or further encumbering 50 Queens Road, Hurstville NSW, and 31a Bardia Parade, Holsworthy NSW; liberty to apply on 2 days' notice; defendants may apply without needing to show material change in circumstances; plaintiff's costs in the cause."]