Month: September 2020

The Securities and Exchange Commission today announced that the court-appointed receiver has begun the final distribution to investors in connection with the SEC’s action against defendants Paul Greenwood, Steven Walsh, and their affiliated WG Trading… Article source: https://www.sec.gov/news/press-release/2020-204

Press Release – Basel Committee and Canada reimagine the 2020 International Conference of Banking Supervisors,9 September 2020. Article source: https://www.bis.org/press/p200911.htm

Catchwords: EQUITY – Interlocutory relief – where defendant seeks interlocutory injunction that the plaintiffs pay 40% of certain tax rebates received by the first plaintiff into a controlled monies account – where defendant established a serious question to be tried – whether balance of convenience favours the grant of an injunction – whether damages an…

Catchwords: CONSUMER LAW – consideration of whether the National Consumer Credit Protection Act 2009 (Cth) (the “NCCP Act”) and the National Credit Code (the “Code”), Schedule 1 to the NCCP Act, apply to 232 contracts for the provision of credit in the form of hire purchase style contracts – consideration of whether the contracts are…

Catchwords: CORPORATIONS – admitted contraventions of the Corporations Act 2001 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth) (the ASIC Act) related to the charging and deductions of fees and representations about the right to charge fees from members of superannuation funds – imposition of penalties pursuant to s 12GBA of the…

Catchwords: PRACTICE AND PROCEDURE – group proceedings – application to seek inspection of respondents’ insurance documents – application under s 247A of the Corporations Act 2001 (Cth) – whether application in good faith and for a proper purpose – whether applicants seeking to enforce or vindicate rights qua shareholders – application dismissed CORPORATIONS – shareholders’…

Catchwords: CORPORATIONS – application for approval to enter into a funding agreement under s 477(2B) of the Corporations Act 2001 (Cth) – where work was carried out by liquidators prior to obtaining approval for the agreement – whether liquidators carrying out duties faithfully – approval granted CORPORATIONS – application for direction under s 90-15 of…

Catchwords: PRACTICE & PROCEDURE – Amendment to pleadings – Amendment to now plead breach of contract – Application partially allowed and partially disallowed – D’Souza v Royal Australian and New Zealand College of Psychiatrists (2005) 12 VR 42 – Mickovski v Financial Ombudsman Service Ltd (2012) 36 VR 456 – Supreme Court (General Civil Procedure)…

Catchwords: REAL PROPERTY – Caveat – Arbitral award declared that a company held funds it received from first respondent on constructive trust for first respondent – Award recognised by Court order – Applicant not party to award – Sole director of the company and applicant gave evidence at public examination that funds received from first…

Catchwords: CORPORATIONS – parents lend $800,000 to son to buy ice cream business in Australia – parents live overseas – company formed – parents are shareholders and son is director – son runs business – son repays half of loan – son allotted 1,800 shares and becomes majority shareholder – son repays loan – son…