7 Mar 2014
The strike-out application was dismissed because the defendant failed to show the plaintiff had no reasonably arguable cause of action; whether the guarantee is illegal and whether relief under s7 should be granted depend on contested factual and discretionary issues that cannot be resolved on a strike-out application.
9 Aug 2012
Blue Chip's JVA, PIP and PAC products were debt securities offered to the public without compliance with the Securities Act and not saved by s5(1)(b); subscriptions included entry into the SPAs so s37(4) renders SPAs unenforceable where executed at the same time as or after the relevant Blue Chip product agreements; developers are properly characterised as issuers (or are attributable with Blue Chip's conduct) so s37(5) applies to require repayment; timing issues for SPAs executed earlier are remitted to the High Court.