FEDERAL COURT OF AUSTRALIA
Australian Securities & Investments Commission v Primelife Corporation Ltd [2005] FCA 1230
AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v PRIMELIFE CORPORATION LIMITED, PRIMELIFE MANAGEMENT SERVICES PTY LTD, BRIGHTON BAY DEVELOPMENTS PTY LTD, PCM NOMINEES (NO 2) PTY LTD and GDK FINANCIAL SOLUTIONS PTY LTD
V1174 OF 2004
SUNDBERG J
2 SEPTEMBER 2005
MELBOURNE
|
IN THE FEDERAL COURT OF AUSTRALIA |
|
|
VICTORIA DISTRICT REGISTRY |
V1174 OF 2004 |
IN THE MATTER OF AGED CARE FACILITY PARTNERSHIP NO 2 SCHEME
|
BETWEEN: |
AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION PLAINTIFF
|
|
AND: |
PRIMELIFE CORPORATION LIMITED (ACN 010 622 901) FIRST DEFENDANT
PRIMELIFE MANAGEMENT SERVICES PTY LTD (ACN 082 926 029) SECOND DEFENDANT
BRIGHTON BAY DEVELOPMENTS PTY LTD (ACN 085 974 901) THIRD DEFENDANT
PCM NOMINEES (NO 2)PTY LTD (ACN 088 161 979) FOURTH DEFENDANT
GDK FINANCIAL SOLUTIONS PTY LTD (ACN 085 488 311) FIFTH DEFENDANT
|
|
SUNDBERG J |
|
|
DATE OF ORDER: |
2 SEPTEMBER 2005 |
|
WHERE MADE: |
MELBOURNE |
THE COURT ORDERS THAT:
1. The motion notice of which was filed on 18 February 2005 be dismissed.
2. The fourth defendant pay the plaintiff’s costs of the motion.
Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
|
IN THE FEDERAL COURT OF AUSTRALIA |
|
|
VICTORIA DISTRICT REGISTRY |
V1174 OF 2004 |
IN THE MATTER OF AGED CARE FACILITY PARTNERSHIP NO 2 SCHEME
|
BETWEEN: |
AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION PLAINTIFF
|
|
AND: |
PRIMELIFE CORPORATION LIMITED (ACN 010 622 901) FIRST DEFENDANT
PRIMELIFE MANAGEMENT SERVICES PTY LTD (ACN 082 926 029) SECOND DEFENDANT
BRIGHTON BAY DEVELOPMENTS PTY LTD (ACN 085 974 901) THIRD DEFENDANT
PCM NOMINEES (NO 2)PTY LTD (ACN 088 161 979) FOURTH DEFENDANT
GDK FINANCIAL SOLUTIONS PTY LTD (ACN 085 488 311) FIFTH DEFENDANT
|
|
JUDGE: |
SUNDBERG J |
|
DATE: |
2 SEPTEMBER 2005 |
|
PLACE: |
MELBOURNE |
REASONS FOR JUDGMENT
1 On 24 September 2004 the plaintiff filed an originating process against five defendants seeking the winding up of The Aged Care Facility Partnership No 2 on the ground that it was a managed investment scheme required to be registered under s 601EB of the Corporations Act 2001 (Cth) but which was not registered. The fourth defendant has moved under Order 20 rule 2 of the Rules of Court for dismissal of the proceeding against it on the grounds that the proceeding discloses no reasonable cause of action, is frivolous and vexatious or is an abuse of process.
2 The motion was heard together with a similar motion in V1199 of 2004. The reasons I have published today in that matter for dismissing the latter motion are mutatis mutandis applicable to the former motion.
|
I certify that the preceding two (2) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Sundberg. |
Associate:
Dated: 2 September 2005
|
Counsel for the Plaintiff: |
PB Murdoch QC and S Senathirajah |
|
|
|
|
Solicitor for the Plaintiff: |
Australian Securities and Investments Commission |
|
|
|
|
Counsel for the Fourth Defendant: |
AC Archibald QC and MR Scott |
|
|
|
|
Solicitors for the Fourth Defendant: |
Clayton Utz |
|
|
|
|
Date of Hearing: |
18 August 2005 |
|
|
|
|
Date of Judgment: |
2 September 2005 |
