PRACTICE AND PROCEDURE – application to discharge freezing orders – whether balance of convenience favours the continuation of the orders – where orders served on banks – where respondents’ bank accounts frozen – where, if the orders were permitted to remain, companies would be wound up and the second respondent would be personally bankrupted – freezing orders discharged upon the respondents undertaking to the applicant and the Court that they will not dispose of or deal with any assets except for the purposes of paying their ordinary living expenses, legal expenses and business expenses, or otherwise with the consent of the plaintiff in writing
PRACTICE AND PROCEDURE – observations on the frequency of applications to vary freezing orders because of difficulties in operating bank accounts – suggested that the onus be on the party seeking a freezing order to justify any proposal to give notice of the order to a bank or financial institution which is not itself a party to the order
Related cases on freezing orders
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Australian Securities and Investments Commission v Falcon Capital Limited (No 2) [2025] FCA 1034
CORPORATIONS – application by ASIC for travel restraint orders and freezing orders under s 1323 of the Corporations Act 2001 (Cth) – where orders previously obtained on an ex parte basis – where orders subsequently extended by consent – where the defendant sought to have orders set aside on the basis of non-disclosure of material…
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Gattani v Digital Edge Technologies Pty Ltd (in administration) [2025] FCA 199 (17 March 2025)
PRACTICE AND PROCEDURE – application by the plaintiff for freezing and ancillary orders concerning the assets of the second defendant and third parties – plaintiff contends that the second defendant: (1) wrongly failed to transfer to the plaintiff the issued shares in the first defendant; (2) diverted funds belonging to the first defendant to the…
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Nova Supply Chain Finance Pty Limited v Active Capital Reinsurance Limited (a company incorporated in Barbados) [2024] FCA 1398
PRACTICE AND PROCEDURE – application to discharge freezing orders – whether balance of convenience favours the continuation of the orders – where orders served on banks – where respondents’ bank accounts frozen – where, if the orders were permitted to remain, companies would be wound up and the second respondent would be personally bankrupted –…
