National Australia Bank Ltd v Stern, Ilana Elenka & Ors [1998] FCA 1665

National Australia Bank Ltd v Stern, Ilana Elenka & Ors [1998] FCA 1665

Having regard to timing of property transfers, reduction in assets, and absence of explanation for such transfers, coupled with undertakings as to damages and no evidence of significant inconvenience, the balance of convenience favours the joinder of the prospective respondents and the grant of appropriate Mareva relief against all respondents.

Jurisdiction
Australia
Judgment Date
21 December 1998
Procedural Posture
Interlocutory Application / Determination of Mareva Injunction and Joinder
Outcome
Joinder of third, fourth and fifth respondents as parties; Mareva injunction granted against all respondents.
Legal Topics
['joinder' 'mareva Injunction' 'transfer of Property' 'asset Dissipation' 'balance of Convenience']
['practice and Procedure'] ['joinder' 'mareva Injunction' 'transfer of Property' 'asset Dissipation' 'balance of Convenience']

Case Brief

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Procedural Posture

Interlocutory Application / Determination of Mareva Injunction and Joinder

Legal Issues

  1. 1 ['Whether there is a serious question to be tried regarding asset transfers and possible dissipation' 'Whether a Mareva injunction may be granted against third parties (prospective respondents)' 'Whether the balance of convenience favours granting the Mareva injunction']

Ratio Decidendi

Having regard to timing of property transfers, reduction in assets, and absence of explanation for such transfers, coupled with undertakings as to damages and no evidence of significant inconvenience, the balance of convenience favours the joinder of the prospective respondents and the grant of appropriate Mareva relief against all respondents.

Court Disposition

Joinder of third, fourth and fifth respondents as parties; Mareva injunction granted against all respondents.

Orders

  • ['Harry Stern, Aana Pollak and Stern Nominees Pty Limited joined as respondents.' "Each of third, fourth and fifth respondents restrained from dealing with any assets transferred to them by first or second respondents after 1 January 1994 without 28 days prior written notice to applicant's solicitor." 'Third, fourth...