Wed nesday 15 April 2009 Click here to visit our website Banking A Daily Bulletin listing Decisions of Superior Courts of Australia Today’s Cases Interlocutory injunctions - Mareva injunction - Property investment - Joint venture - Freezing orders – See Ron Medich Properties Pty Limited v Bentley-Smythe Pty Limited (No. 3) Insolvency - Westpoint property group collapse - Winding up - Privity of interest – Cross- Claim against ASIC & the Commonwealth - See Ann Street Mezzanine Pty Limited (in liq) v Beck Corporations Act 2001 (Cth) - ASIC intervener - Proper functioning of Australian financial system - ASIC’s offer of assistance declined – See Permanent Trustee Company Limited v O’Donnell; Permanent Trustee Company Limited v Di Benedetto; Tonto Home Loans Australia Pty Limited v Tavares Page 2 Click here to visit our website Wednesday 15 April 2009 Ron Medich Properties Pty Ltd v Bentley-Smythe Pty Ltd (No 3) [2009] FCA 335 Federal Court of Australia Graham J (in Sydney) Interlocutory injunctions – principles & case law considered – purpose of granting Mareva injunction – property investment – alleged joint venture - proposed acquisition & development of property - Court declined to make freezing orders – Court declined to make orders mandating that the McGurk interests provide information in relation to their assets. Ron Medich Properties Ann Street Mezzanine Pty Ltd (in liq) v Beck [2009] FCA 333 Federal Court of Australia Finkelstein J (in Melbourne) Winding up – insolvency – parties to litigation - privity of interest - collapse of Westpoint property group – cross-respondents, Australian Securities & Investments Commission and the Commonwealth applying to have cross-claims brought against them stuck out – A.S.I.C. contending cross-claim should be struck out on grounds of abuse of process & issue estoppel - s8A ASIC Act 2001 (Cth) - an interesting review of case law from USA, UK & Australia. Ann Street Mezzanine Permanent Trustee Company Limited v O'Donnell & Anor; Permanent Trustee Company Limited v Di Benedetto & Anor; Tonto Home Loans Australia Pty Limited v Tavares and Anor [2009] NSWSC 271 Supreme Court of New South Wales Price J Corporations Act 2001 (Cth) - evidence - admissibility - ASIC has intervened in proceedings - upholding public interest in proper functioning of Australian financial system - pursuant to s1330(2), ASIC taken to be a party to the proceedings with all the rights, duties & liabilities of such a party –ASIC seeking to provide material to Court – plaintiff objecting to ASIC’s provision of assistance - ASIC’s offer of assistance declined – an interesting judgment. Permanent Trustee Company Quinn & Ors v Gray [2009] VSC 136 Supreme Court of Victoria Byrne J Employment contract – Commercial Arbitration Act 1984 (NSW) - appeal by both parties against award - employment as secondary school principal - whether damages available at common law for loss of Pa ge 3 Click here to visit our website opportunity to find alternative employment in a wrongful dismissal case - implied term as to mutual trust & confidence – damages for disappointment & distress – employee contending provision in employment contract meant that she was entitled to reasonable notice provided this was not less than six months – applications by both parties refused. Quinn .