In the matter of William Enterprise Group Pty Ltd ACN 140 040 419 [2016] NSWSC 1957

In the matter of William Enterprise Group Pty Ltd ACN 140 040 419 [2016] NSWSC 1957

An interim freezing order was justified because, for the short interim period, there was a sufficiently arguable case of misleading and deceptive conduct, a sufficiently arguable risk of dissipation arising from the treatment of the plaintiff's contribution in the accounts, and the balance of convenience favoured relief in the absence of demonstrated jeopardy to any business project or undertaking.

Jurisdiction
Australia
Judgment Date
06 June 2016
Procedural Posture
Equity Corporations List; Interim Application for a Freezing Order / Interim Hearing
Outcome
Interim injunction granted until 20 June 2016 and proceedings adjourned for interlocutory hearing.
Legal Topics
['interim Relief' 'freezing Order' 'misleading and Deceptive Conduct' 'risk of Dissipation' 'balance of Convenience']
['corporations' 'equity' 'civil Procedure'] ['interim Relief' 'freezing Order' 'misleading and Deceptive Conduct' 'risk of Dissipation' 'balance of Convenience']

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Procedural Posture

Equity Corporations List; Interim Application for a Freezing Order / Interim Hearing

Legal Issues

  1. 1 ['Whether there was a sufficiently arguable case of misleading and deceptive conduct for the purposes of interim relief.' 'Whether there was a sufficiently arguable case of a risk of dissipation of assets.' 'Whether the balance of convenience favoured granting an interim injunction.']

Ratio Decidendi

An interim freezing order was justified because, for the short interim period, there was a sufficiently arguable case of misleading and deceptive conduct, a sufficiently arguable risk of dissipation arising from the treatment of the plaintiff's contribution in the accounts, and the balance of convenience favoured relief in the absence of demonstrated jeopardy to any business project or undertaking.

Court Disposition

Interim injunction granted until 20 June 2016 and proceedings adjourned for interlocutory hearing.

Orders

  • ['Upon the plaintiff by his counsel giving to the Court the usual undertaking as to damages, until 20 June 2016 the first defendant be restrained from by himself, his servants or agents, removing from Australia, alienating, encumbering, diminishing the value of or otherwise adversely dealing with his assets up to...