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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UFC Enterprise Morley Pty Ltd v UFC Enterprise Northbridge Pty Ltd [2024] FCA 1396
PRACTICE AND PROCEDURE – urgent ex parte application for freezing orders under r 7.32 of the Federal Court Rules 2011 (Cth) – application before start of proceeding under r 7.01 – consideration of applicable principles – good arguable case for breaches of statutory and fiduciary duties and equitable compensation – danger of frustrating prospective judgment…
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Haycraft v AF1 Services Pty Ltd [2023] FCA 774
CORPORATIONS – application for winding up of a company on just and equitable grounds under s 461(1)(k) of the Corporations Act 2001 (Cth) – where directors of the company disagree on aspects of the conduct of the business – where relevant business is profitable, solvent and has many employees – applicable principles to just and…
