Australian Securities & Investments Commission; In the Matter of Richstar Enterprises Pty Ltd ACN 099 071 968 v Carey

Federal Court of Australia|2007-02-05|Before: French J

In respect of the First Defendant THE COURT ORDERS THAT:

Orders 2 to 23 made in these proceedings before the Honourable Justice French on 30 June 2006 as amended from time to time in relation to the First Defendant (Individual Defendant) are as at the date of these Orders replaced by the Orders below. The Individual Receiver orders

Until 30 June 2007 or further order, Brian McMaster and Mark Korda of KordaMentha, Chartered Accountants, of Level 11, 37 St Georges Terrace, Perth be appointed jointly and severally as receivers (the Individual Receivers) to all property (the Individual Property) whether within Australia or overseas, of the Individual Defendant.

3.1 property held in the name of the Individual Defendant; 3.2 property held by the Individual Defendant as trustee for a trust or on behalf of or on account of another person; 3.3 property held jointly in the name of the Individual Defendant and one or more persons or entities not named as a defendant in these proceedings (Third Party); 3.4 property held jointly in the name of the Individual Defendant and a Third Party for the express purpose of a joint venture; 3.5 property held by the Individual Defendant jointly with a Third Party, where both the Individual Defendant and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person; 3.6 property held by a Third Party as trustee of a trust, where the Individual Defendant agrees that he is or the Court directs that he is to be treated as the effective controller or owner of the trust property; and 3.7 rights to operate the Individual Bank Accounts (as that term is defined in Order 4 below) and any chose in action in relation to such account;

3.8 such rights or choses in action in relation to any Excluded Individual Bank Accounts (as that term is defined in Order 4 below).

For the purpose of these orders, "Individual Bank Accounts" means accounts which fall within any of the following categories:

4.1 accounts held in the name of the Individual Defendant; 4.2 accounts held by the Individual Defendant as trustee for a trust or on behalf of or on account of another person; 4.3 accounts held jointly in the name of the Individual Defendant and a Third Party; 4.4 accounts held jointly in the name of the Individual Defendant and a Third Party for the express purpose of a joint venture; and 4.5 accounts held by the Individual Defendant jointly with a Third Party, where both the Individual Defendant and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person; and

but does not include the following (collectively the "Excluded Individual Bank Accounts"):

4.6 such other accounts as notified to the relevant Bank by the Plaintiff or Individual Receivers.

The Individual Defendant shall provide the Individual Receivers with monthly bank statements in respect of the Excluded Individual Bank Accounts within seven (7) days of receipt of such bank statements.

The Individual Receivers have, in respect of the Individual Property, the following powers:

6.1 the power to do all things necessary or convenient to be done for or in connection with, or as incidental to, the identification, preservation and securing of all of the Individual Property for the benefit of potential creditors; 6.2 without limiting the generality of the power in the preceding subparagraph:

6.2.1 the power to enter into possession and take control of the Individual Property to the extent that the exercise of the power is reasonably necessary to achieve the purposes set out in the preceding sub-paragraph; and 6.2.2 the power to appoint a lawyer, accountant or other professionally qualified person to assist the Individual Receivers. 6.3 The preceding powers shall not extend to the sale, letting or encumbering of such property without prior leave of the Court or the consent of the Individual Defendant.

The power referred to in paragraph 5.1 above shall not prevent:

7.1 the Individual Defendant or any other person or entity affected by this order carrying on any business or otherwise impeding their ability to carry on a business in an effective and efficient manner PROVIDED HOWEVER that the said limitation on the power of the Individual Receivers shall not apply to the extent that the exercise of the said power is necessary to do the things referred to in paragraph 6.1; or 7.2 the Individual Defendant and any persons or entities affected this order, with the prior written approval of the Individual Receivers (or any of them) from:

7.2.1 selling Individual Property; or 7.2.2 acquiring property with funds held in an Individual Defendant Account; or 7.2.3 applying for new advances from any Bank; or 7.2.4 granting new security in favour of any Bank over Individual Property (acquired prior to or after the date of this Order);

7.3.1 exercising any right of set-off which it may have in respect of a facility afforded by it to the Individual Defendant prior to or after the date of this Order; or 7.3.2 subject to paragraph 10 below, processing any Automatic Bank Debits or Automatic Third Party Debits otherwise permitted by these orders; or 7.3.3 enforcing or exercising any security right or interest existing now or in the future in relation to the Individual Property; or 7.3.4 debiting Individual Bank Accounts with any interest, fees, costs and charges in accordance with the terms and conditions set out in the relevant Bank's security and facility documentation.

The Individual Receivers (or any one of them) must be appointed a required signatory to all the Individual Bank Accounts.

Subject to paragraphs 6.3.2, 9, 10 and 14 herein, all electronic banking facilities, to the extent they allow the Individual Defendant to conduct transactions on that account, in relation to the Individual Bank Accounts, will be cancelled and only reinstated upon the written request of the Individual Receivers and at the relevant Bank's discretion.

"Automatic Bank Debit" means an automatic debit from an Individual Bank Account, which debit is established by an authority provided by the account holder in favour of the Bank which holds the Individual Bank Account.

"Automatic Third Party Debits" means an automatic debit from an Individual Bank Account, which debit is established by an authority provided by the account holder in favour of a third party who receives the proceeds of the debit.

10.1 Automatic Bank Debits existing before 30 March 2006 may continue, provided that the Individual Receivers may request the Bank to cancel any Automatic Bank Debit which is not otherwise permitted by these orders. 10.2 Automatic Third Party Debits existing before 30 March 2006 may continue, providing that the Individual Receivers may request the third party to cancel any such Automatic Third Party Debit which is not otherwise permitted by these orders. 10.3 For the avoidance of doubt, all of the relevant Bank's rights are preserved under the relevant facility terms and conditions and any relevant authority.

Subject to the Individual Receivers' satisfaction as to the solvency of the Individual Defendant, the Individual Receivers may, in relation to the Individual Defendant and any persons or entitles affected by this order, approve:

11.1 payments by the Individual Defendant to pay reasonable legal expenses incurred in these proceedings or legal costs that may be reasonably incurred in the future that are either incidental to these proceedings or in anticipation of, or in preparation for, the proceedings the Plaintiff or others may bring against the Individual Defendant, which includes the payment of monies on trust to solicitors on account of such expenses; 11.2 reasonable expenses required to maintain, realise or preserve assets; 11.3 Automatic Bank Debits from any Individual Bank Account otherwise not permitted by these orders; and 11.4 changes to security and facility arrangements with any Bank.

Upon receipt of confirmation of the approval of the Individual Receivers (or any one of them), no Bank need inquire as to:

12.1 the application or proposed application of any money withdrawn or automatically debited from the Individual Bank Accounts; or 12.2 whether a transaction or proposed transaction or any change to arrangements is in contravention of these Orders.

For the avoidance of doubt, all of the Banks' rights are preserved and it remains at the Banks' absolute discretion, subject to the terms and conditions set out in the Banks' respective security and facility documentation, as to whether they will make further credit funds available or will permit any changes of facility or security arrangements at the request of the Individual Defendant and the Individual Receivers.

The Individual Receiver shall pay by a cheque payable to cash from the first defendant's salary entitlements payable by the fifth and sixth defendants, a sum for living expenses in such sum as approved by the Individual Receiver, such payment being made on Monday of each week to the first defendant, subject to there being sufficient funds available in the accounts of the fifth and sixth defendants to make such payment.

Any balance payable by the fifth and sixth defendants with respect to the first defendant's salary entitlements is to be deposited into and to accrue in a bank account to be opened by the Individual Receiver for the benefit of the first defendant.

The Individual Defendant by himself, his servants, agents or employees, must:

16.1 permit the Individual Receivers ongoing access to the books and records which relate to the Individual Property including any computer system of the Individual Defendant; 16.2 use his best endeavours to assist the Individual Receivers in the performance of their obligations.

16A.1 Any Bank which holds private and confidential information in relation to its customers which may assist in identifying the Individual Bank Accounts may be required by written notice from the Individual Receivers to provide such information to the Individual Receivers within a reasonable time after having received a written request for such information accompanied by a copy of this order.

16A.2 Any Bank which receives such a request from the Individual Receivers may apply within 7 days from its receipt or such longer period as may be agreed with the Individual Receivers to be relieved from the obligation of complying with it.

16A.3 In the event that no such application is made or that such application is refused, the Bank must comply with the request within a reasonable time or within such time as the Court orders.

16A.4 The Individual Receivers may provide any information obtained pursuant to this Order to the Plaintiff.

16A.5 The Bank, before complying with any written request shall first give notice to the relevant customers.

16B Any of the following Banks (Westpac Banking Corporation Limited, National Australia Bank Limited and HBOS Australia Limited) which:

16B.1 becomes aware of private and confidential information in relation to its customers (which may include, but is not intended to be limited to private and confidential information in relation to the Individual Defendant); and

16B.2 reasonably believes that the private and confidential information may assist the Plaintiff and/or the Individual Receivers in:

16B.2.1 identifying the Individual Bank Accounts to which these orders apply; or 16B2.2 identifying Individual Property in a bank account held by a Third Party; or 16B.2.3 recovering Individual Property from a Third Party,

may, within a reasonable time, inform the Plaintiff and the Individual Receivers that it holds information potentially relevant to the above and, after having receipt of a written request for information, must provide such information as may reasonably be required to the Plaintiff and the Individual, Receivers within a reasonable time, after first giving notice to the relevant customer.

16C Nothing in Order 16A requires a Bank to make inquiry or investigate any customer, transaction or bank account.

The Individual Receivers have leave to give to any Bank with which the Individual Defendant or Third Party operates any Individual Bank Accounts a copy of the affidavit filed and/or served by the Individual Defendant pursuant to Order 4 of the orders made by this Court on 20 April 2006 in relation to the Individual Defendant, so as to inform them of the Bank Accounts which are Individual Bank Accounts. The 'Travel Restraint' Orders

Until further order that the Individual Defendant is restrained from:

18.1 leaving Australia; and 18.2 from coming within one hundred (100) metres of an Australian point of overseas departure.

All documents produced to the Court's Registry pursuant to paragraph 10 of the orders made before the Honourable Justice French in these proceedings on 20 April 2006 in relation to the Individual Defendant shall be held by the Court's Registry until further order. The 'General' Orders

The Plaintiff, the Individual Receivers and the Corporate Receivers have leave to give to:

20.1 the relevant authorities that record, control and regulate the ownership of real property; 20.2 the relevant authorities that record, control and regulate the ownership of motor vehicles; 20.3 the relevant authorities that record, control and regulate the ownership of maritime vessels and craft; 20.4 any Bank with which the Individual Defendant operates any Individual Bank Accounts; 20.5 any other person or entity holding or controlling property belonging to the Individual Defendant; and 20.6 any Third Party,

notice of these Orders by delivering a copy of these Orders to a person apparently in the employ of that entity or person.

The Individual Receivers may report (orally or in writing) to the Plaintiff and to the Court at any time during the course of their receivership regarding:

21.1 the nature of the Individual Property identified; 21.2 the assets and liabilities of the Individual Defendant and the solvency of the Individual Defendant; 21.3 the costs of the receivership, the future course of the receivership and the costs that may be incurred by the Individual Receivers in the future; and 21.4 any other information in relation to the Individual Property that the Individual Receivers think necessary to protect the interests of persons to whom the Individual Defendant is liable, or may become liable, to pay money, whether in respect of debt, by way of damages or compensation or otherwise, or to account for financial products or other property.

The Individual Receivers may by written notice to the Individual Defendant require within seven (7) days of the date of such notice, the Individual Defendant to identify in writing any trusts of which the Individual Defendant is a beneficiary (including a general beneficiary of a discretionary trust), whether named or otherwise, and to provide the following information concerning such trust:

22.1 the name and address of the trustee; 22.2 a copy of the relevant trust deed (if it has possession, custody or control of the same); and 22.3 any further information or documentation regarding the trust and the management of the trust as requested by the Individual Receivers and to which the Individual Defendant is entitled, including, but not limited to, the distribution history of the trust.

The Individual Defendant shall authorise the Individual Receivers to, and the Individual Receivers shall be entitled to, obtain information regarding the trusts referred to in the preceding paragraph from the trustees of such trusts, including the terms of such trusts, the classes of its beneficiaries and its distribution history, and the Individual Defendant shall sign all such documents and do all such things necessary to give effect to the granting of such authority.

If within ten (10) days of the Receivers or their legal advisers becoming aware of any matter or issue that may give rise to a conflict of interest, they shall seek the advice of counsel in respect of the possible conflict.

If counsel is of the view that the matter or issue gives rise to a possible conflict of interest, then the Receivers shall make an application to the Court for appropriate directions.

The costs of the Plaintiff's application for these Orders is to be paid by the first defendant.

The Parties and any third party affected by these orders have liberty to apply to the Court on the giving of reasonable notice.

In respect of the FIFTH DEFENDANT THE COURT ORDERS THAT:

Orders 2 to 23 made in these proceedings before the Honourable Justice French on 30 June 2006 as amended from time to time in relation to the Fifth Defendant (Corporate Defendant) are as at the date of these orders replaced by the orders below.

Until 30 June 2007 or further order, Brian McMaster and Mark Korda of KordaMentha, Chartered Accountants, of Level 11, 37 St Georges Terrace, Perth, be appointed jointly and severally as receivers and managers (the Corporate Receivers) to property (the Corporate Property), whether within Australia or overseas, of the Corporate Defendant.

For the purpose of these orders, "Corporate Property" includes property which falls within any of the following categories:

3.1 property held in the name of the Corporate Defendant; 3.2 property held by the Corporate Defendant as trustee for a trust or on behalf of or on account of another person; 3.3 property held jointly in the name of the Corporate Defendant and one or more persons or entities not named as a defendant in these proceedings (Third Party); 3.4 property held jointly in the name of the Corporate Defendant and a Third Party for the express purpose of a joint venture; 3.5 property held by the Corporate Defendant jointly with a Third Party, where both the Corporate Defendant and the Third Party hold the property in their capacity as joint trustees for a trust or on behalf of or on account of another person; 3.6 property held by a Third Party as trustee of a trust, where the Corporate Defendant agrees that it is or the Court directs that it is to be treated as the effective controller or owner of the trust property; and 3.7 right to operate any Corporate Bank Account (as that term is defined in Order 4 below) and any chose in action in relation to such account;

3.8 such rights or choses in action in relation to any Excluded Corporate Bank Accounts (as that term is defined in Order 4 below).

For the purpose of these orders, "Corporate Bank Accounts" means accounts which fall within any of the following categories:

4.1 accounts held in the name of the Corporate Defendant; 4.2 accounts held by the Corporate Defendant as trustee for a trust or on behalf of or on account of another person; 4.3 accounts held jointly in the name of the Corporate Defendant and a Third Party; 4.4 accounts held jointly in the name of the Corporate Defendant and a Third Party for the express purpose of a joint venture; and 4.5 accounts held by the Corporate Defendant jointly with a Third Party, where both the Corporate Defendant and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person,

but does not include the following (collectively the "Excluded Corporate Accounts"):

4.6 such other accounts as notified to the relevant bank, building society or financial institution (Bank) by the Plaintiff or Corporate Receivers.

The Corporate Receivers have, in respect of the Corporate Property, the following powers:

5.1 the power to do all things necessary or convenient to be done for or in connection with, or as incidental to, the identification, preservation and securing of all of the Corporate Property for the benefit of potential creditors; 5.2 without limiting the generality of the power in the preceding subparagraph:

5.2.1 the power to enter into possession and take control of the Corporate Property to the extent that the exercise of the power is reasonably necessary to achieve the purposes set out in the preceding sub-paragraph; and 5.2.2 the power to appoint a lawyer, accountant or other professionally qualified person to assist the Corporate Receivers; and

5.3 The preceding powers shall not extend to the sale, letting or encumbering of such property without prior leave of the Court or the consent of the Corporate Defendant.

The Corporate Receivers (or any one of them) must be appointed a required signatory to all Corporate Defendant Accounts.

Subject to Orders 8, 9.3.3 and 10.3, all electronic banking facilities to the extent they allow the conducting of transactions on the Corporate Bank Accounts, will be cancelled and only reinstated upon the written request of the Corporate Receivers and at the relevant Bank's discretion.

"Automatic Bank Debit" means an automatic debit from a Corporate Bank Account, which debit is established by an authority provided by the account holder in favour of the Bank which holds the Corporate Bank Account.

"Automatic Third Party Debits" means an automatic debit from a Corporate Bank Account, which debit is established by an authority provided by the account holder in favour of a third party who receives the proceeds of the debit.

8.1 Automatic Bank Debits existing before 30 March 2006 may continue, provided that the Corporate Receivers may request the Bank to cancel any Automatic Bank Debit which is not otherwise permitted by these orders. 8.2 Automatic Third Party Debits existing before 30 March 2006 may continue, providing that the Corporate Receivers may request the third party to cancel any such Automatic Third Party Debit which is not otherwise permitted by these orders. 8.3 For the avoidance of doubt, all of the relevant Bank's rights are preserved under the relevant facility terms and conditions and any relevant authority.

9.1 the Corporate Defendant by its officers other than the Corporate Receivers from continuing to operate in the ordinary course of its business(es), provided that the said limitation on the power of the Corporate Receivers shall not apply to the extent that the exercise of the said power is necessary to do the things referred to in Order 5 and provided further that it must obtain the Corporate Receivers' prior consent to any transaction that would result in the transfer or disposition of any part of the Corporate Property exceeding a value in excess of $5,000 or a series of transactions that would result in the transfer or disposition of any part of the Corporate Property totalling a value of in excess of $5,000 within any seven (7) day period; and

9.2 the Corporate Defendant, with the prior written approval of the Corporate Receivers (or any of them), from:

9.2.1 selling Corporate Property; or 9.2.2 applying for new advances from any Bank; 9.2.3 granting new security in favour of any Bank over Corporate Property (acquired prior to or after the date of this Order); or 9.2.4 paying any creditor;

9.3.1 exercising any right of set-off which it may have in respect of a facility afforded by it to the Corporate Defendant prior to or after the date of this Order; 9.3.2 enforcing or exercising any security right or interest existing now or in the future in relation to the Corporate Property; 9.3.3 subject to Order 8 above, processing any Automatic Bank Debit or Automatic Third Party Debit otherwise permitted by these Orders; and 9.3.4 debiting Corporate Bank Accounts with any interest, fees, costs and charges in accordance with the terms and conditions set out in the relevant Bank's security and facility documentation.

Subject to the Corporate Receivers' satisfaction as to the solvency of the Corporate Defendant, the Corporate Receivers may, in relation to the Corporate Defendant, approve:

10.1 payments by the Corporate Defendant to pay reasonable legal expenses incurred in these proceedings or legal costs that may be reasonably incurred in the future that are either incidental to these proceedings or in anticipation of, or in preparation for the proceedings the Plaintiff or others may bring against the Corporate Defendant, which includes the payment of monies on trust to solicitors on account of such expenses; 10.2 reasonable expenses required to maintain, realise or preserve assets; 10.3 Automatic Bank Debits from any Corporate Bank Account required to effect a transaction otherwise permitted by these orders; and 10.4 changes to security and facility arrangements with any Bank.

Upon receipt of confirmation of the approval of the Corporate Receivers (or any one of them), no Bank need inquire as to:

11.1 the application or proposed application of any money withdrawn or automatically debited from the Corporate Bank Accounts; or 11.2 whether a transaction or proposed transaction or any change to arrangements is in contravention of these Orders.

For the avoidance of doubt, all of the Banks' rights are preserved and it remains at the Banks' absolute discretion, subject to the terms and conditions set out in the Banks' respective security and facility documentation, as to whether they will make further credit funds available or will permit any changes of facility or security arrangements at the request of the Corporate Defendant and the Corporate Receivers.

In exercising the discretion to consent or not to any payment, transfer or disposition contemplated in these orders, the Corporate Receivers have the power to make all necessary and incidental inquiries into the affairs of the Corporate Defendant (including the power to make inquiries in the name of the Corporate Defendant), including inspecting the books and records and any other information held by the Corporate Defendant and or their agents relating to those affairs, and the Corporate Defendant must give the Corporate Receivers such assistance as is reasonably requested by them in the course of such inquiries.

The Corporate Defendant, by itself, its servants, agents or employees, must:

14.1 permit the Corporate Receivers ongoing access to the books and records which relate to the Corporate Property including any computer system of the Corporate Defendant; and 14.2 use its best endeavours to assist the Corporate Receivers in the performance of their obligations.

The Corporate Receivers have leave to give to any Bank with which the Corporate Defendant or Third Party operates any Corporate Bank Accounts a copy of the affidavit filed by the Corporate Defendant pursuant to Order 5 of the orders made by this Court on 20 April 2006 in relation to the Corporate Defendant, so as to inform them of the Bank Accounts which are Corporate Bank Accounts.

16.1 Any Bank which holds private and confidential information in relation to its customers which may assist in identifying the Corporate Bank Accounts may be required by written notice from the Corporate Receivers to provide such information to the Corporate Receivers within a reasonable time after having received a written request for such information accompanied by a copy of this Order.

16.2 Any Bank which receives such a request from the Corporate Receivers may apply within seven (7) days from its receipt or such longer period as may be agreed with the Corporate Receivers to be relieved from the obligation of complying with it.

16.3 In the event that no such application is made or that such application is refused, the Bank must comply with the request within a reasonable time or such time as the Court orders.

16.4 The Corporate Receivers may provide any information obtained pursuant to this Order to the Plaintiff.

16.5 The Bank, before complying with any written request shall first give notice to the relevant customers.

Any of the following Banks (Westpac Banking Corporation Limited, National Australia Bank Limited and HBOS Australia Limited) which:

17.1 becomes aware of private and confidential information in relation to its customers (which may include, but is not intended to be limited to private and confidential information in relation to the Corporate Defendant); and 17.2 reasonably believes that the private and confidential information may assist the Plaintiff and/or the Corporate Receivers in:

17.2.1 identifying the Corporate Bank Accounts to which these orders apply; or 17.2.2 identifying Corporate Property in a bank account held by a Third Party; or 17.2.3 recovering Corporate Property from a Third Party,

may, within a reasonable time, inform the Plaintiff and the Corporate Receivers that it holds information potentially relevant to the above and, after having receipt of a written request for information, must provide such information as may reasonably be required to the Plaintiff and the Corporate Receivers within a reasonable time, after first giving notice to the relevant customer."

Nothing in Order 17 requires a Bank to make inquiry of or investigate any customer, transaction or bank account.

The Plaintiff, the Individual Receivers and the Corporate Receivers have leave to give to:

19.1 the relevant authorities that record, control and regulate the ownership of real property;

19.2 the relevant authorities that record, control and regulate the ownership of motor vehicles; 19.3 the relevant authorities that record, control and regulate the ownership of maritime vessels and craft; 19.4 any Bank with which the Corporate Defendant operates any Corporate Bank Accounts; 19.5 any other person or entity holding or controlling property belonging to the Corporate Defendant; and 19.6 any Third Party,

notice of these Orders by delivering a copy of these Orders to a person apparently in the employ of that entity or person.

The Corporate Receivers may report (orally or in writing) to the Plaintiff and to the Court at any time during the course of their receivership regarding:

20.1 the nature of the Corporate Property identified; 20.2 the assets and liabilities of the Corporate Defendant and the solvency of the Corporate Defendant; 20.3 the costs of the receivership, the future course of the receivership and the costs that may be incurred by the Corporate Receivers in the future; and 20.4 any other information in relation to the Corporate Property that the Corporate Receivers think necessary to protect the interests of persons to whom the Corporate Defendant is liable, or may become liable, to pay money, whether in respect of debt, by way of damages or compensation or otherwise, or to account for financial products or other property.

The Corporate Receivers may by written notice to the Corporate Defendant require within seven (7) days of the date of such notice, the Corporate Defendant to identify in writing any trusts of which the Corporate Defendant is a beneficiary (including a general beneficiary of a discretionary trust), whether named or otherwise, and to provide the following information concerning such trust:

21.1 the name and address of the trustee; 21.2 a copy of the relevant trust deed (if it has possession, custody or control of the same); and 21.3 any further information or documentation regarding the trust and the management of the trust as requested by the Corporate Receivers and to which the Corporate Defendant is entitled including, but not limited to, the distribution history of the trust.

The Corporate Defendant shall authorise the Corporate Receivers to, and the Corporate Receivers shall be entitled to, obtain information regarding the trusts referred to in the preceding paragraph from the trustees of such trusts, including the terms of such trusts, the classes of its beneficiaries and its distribution history, and the Corporate Defendant shall sign all such documents and do all such things necessary to give effect to the granting of such authority.

If within 10 days of the Receivers or their legal advisers becoming aware of any matter or issue that may give rise to a conflict of interest, they shall seek the advice of counsel in respect of the possible conflict.

If counsel is of the view that the matter or issue gives rise to a possible conflict of interest, then the Receivers shall make an application to the Court for appropriate directions.

The costs of the Plaintiff's application for these Orders is to be paid by the Fifth Defendant.

The Parties and any third parties affected by these orders have liberty to apply to the Court on the giving of reasonable notice.

The Fifth Defendant is hereby authorised to release the sum of $40,878.04 from its trust account with Mony de Kerloy to those solicitors in respect of their costs and disbursements incurred in connection with the interlocutory application together with the further sum of $500, being the costs of the application in relation to the release of that sum.

In respect of the Sixth Defendant THE COURT ORDERS THAT:

Orders 2 to 23 made in these proceedings before the Honourable Justice French on 30 June 2006 as amended from time to time in relation to the Sixth Defendant (Corporate Defendant) are as at the date of these orders replaced by the orders below.

The Corporate Receiver orders 2. Until 30 June 2007 or further order, Brian McMaster and Mark Korda of KordaMentha, Chartered Accountants, of Level 11, 37 St Georges Terrace, Perth, be appointed jointly and severally as receivers and managers ('the Corporate Receivers') to property (the 'Corporate Property'), whether within Australia or overseas, of the Corporate Defendant. 3. For the purpose of these orders, "Corporate Property" includes property which falls within any of the following categories: 3.1 property held in the name of the Corporate Defendant; 3.2 property held by the Corporate Defendant as trustee for a trust or on behalf of or on account of another person; 3.3 property held jointly in the name of the Corporate Defendant and one or more persons or entities not named as a defendant in these proceedings (Third Party); 3.4 property held jointly in the name of the Corporate Defendant and a Third Party for the express purpose of a joint venture; 3.5 property held by the Corporate Defendant jointly with a Third Party, where both the Corporate Defendant and the Third Party hold the property in their capacity as joint trustees for a trust or on behalf of or on account of another person; 3.6 property held by a Third Party as trustee of a trust, where the Corporate Defendant agrees that it is or the Court directs that it is to be treated as the effective controller or owner of the trust property; and 3.7 right to operate any Corporate Bank Account (as that term is defined in Order 4 below) and any chose in action in relation to such account; but does not include: 3.8 such rights or choses in action in relation to any Excluded Corporate Bank Accounts (as that term is defined in Order 4 below). 4. For the purpose of these orders, "Corporate Bank Accounts" means accounts which fall within any of the following categories: 4.1 accounts held in the name of the Corporate Defendant; 4.2 accounts held by the Corporate Defendant as trustee for a trust or on behalf of or on account of another person; 4.3 accounts held jointly in the name of the Corporate Defendant and a Third Party; 4.4 accounts held jointly in the name of the Corporate Defendant and a Third Party for the express purpose of a joint venture; and 4.5 accounts held by the Corporate Defendant jointly with a Third Party, where both the Corporate Defendant and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person, but does not include the following (collectively the 'Excluded Corporate Accounts'): 4.6 such other accounts as notified to the relevant bank, building society or financial institution ("Bank") by the Plaintiff or Corporate Receivers. 5. The Corporate Receivers have, in respect of the Corporate Property, the following powers: 5.1 the power to do all things necessary or convenient to be done for or in connection with, or as incidental to, the identification, preservation and securing of all of the Corporate Property for the benefit of potential creditors; 5.2 without limiting the generality of the power in the preceding subparagraph: 5.2.1 the power to enter into possession and take control of the Corporate Property to the extent that the exercise of the power is reasonably necessary to achieve the purposes set out in the preceding sub-paragraph; and 5.2.2 the power to appoint a lawyer, accountant or other professionally qualified person to assist the Corporate Receivers; and 5.3 the preceding powers shall not extend to the sale, letting or encumbering of such property without prior leave of the Court or the consent of the Corporate Defendant. 6. The Corporate Receivers (or any one of them) must be appointed a required signatory to all Corporate Defendant Accounts. 7. Subject to Orders 8, 9.3.3 and 10.3, all electronic banking facilities to the extent they allow the conducting of transactions on the Corporate Bank Accounts, will be cancelled and only reinstated upon the written request of the Corporate Receivers and at the relevant Bank's discretion. 8. For the purposes of these Orders: "Automatic Bank Debit" means an automatic debit from a Corporate Bank Account, which debit is established by an authority provided by the account holder in favour of the Bank which holds the Corporate Bank Account. "Automatic Third Party Debits" means an automatic debit from a Corporate Bank Account, which debit is established by an authority provided by the account holder in favour of a third party who receives the proceeds of the debit. 8.1 Automatic Bank Debits existing before 30 March 2006 may continue, provided that the Corporate Receivers may request the Bank to cancel any Automatic Bank Debit which is not otherwise permitted by these orders. 8.2 Automatic Third Party Debits existing before 30 March 2006 may continue, providing that the Corporate Receivers may request the third party to cancel any such Automatic Third Party Debit which is not otherwise permitted by these orders. 8.3 For the avoidance of doubt, all of the relevant Bank's rights are preserved under the relevant facility terms and conditions and any relevant authority. 9. These orders shall not prevent: 9.1 the Corporate Defendant by its officers other than the Corporate Receivers from continuing to operate in the ordinary course of its business(es), provided that the said limitation on the power of the Corporate Receivers shall not apply to the extent that the exercise of the said power is necessary to do the things referred to in Order 5 and provided further that it must obtain the Corporate Receivers' prior consent to any transaction that would result in the transfer or disposition of any part of the Corporate Property exceeding a value in excess of $5,000 or a series of transactions that would result in the transfer or disposition of any part of the Corporate Property totalling a value of in excess of $5,000 within any seven (7) day period; and 9.2 the Corporate Defendant, with the prior written approval of the Corporate Receivers (or any of them), from: 9.2.1 selling Corporate Property; or 9.2.2 applying for new advances from any Bank; 9.2.3 granting new security in favour of any Bank over Corporate Property (acquired prior to or after the date of this Order); or 9.2.4 paying any creditor; 9.3 any Bank from: 9.3.1 exercising any right of set-off which it may have in respect of a facility afforded by it to the Corporate Defendant prior to or after the date of this Order; 9.3.2 enforcing or exercising any security right or interest existing now or in the future in relation to the Corporate Property; 9.3.3 subject to Order 8 above, processing any Automatic Bank Debit or Automatic Third Party Debit otherwise permitted by these Orders; and 9.3.4 debiting Corporate Bank Accounts with any interest, fees, costs and charges in accordance with the terms and conditions set out in the relevant Bank's security and facility documentation. 10. Subject to the Corporate Receivers' satisfaction as to the solvency of the Corporate Defendant, the Corporate Receivers may, in relation to the Corporate Defendant, approve: 10.1 payments by the Corporate Defendant to pay reasonable legal expenses incurred in these proceedings or legal costs that may be reasonably incurred in the future that are either incidental to these proceedings or in anticipation of, or in preparation for the proceedings the Plaintiff or others may bring against the Corporate Defendant, which includes the payment of monies on trust to solicitors on account of such expenses; 10.2 reasonable expenses required to maintain, realise or preserve assets; 10.3 Automatic Bank Debits from any Corporate Bank Account required to effect a transaction otherwise permitted by these orders; and 10.4 changes to security and facility arrangements with any Bank. 11. Upon receipt of confirmation of the approval of the Corporate Receivers (or any one of them), no Bank need inquire as to: 11.1 the application or proposed application of any money withdrawn or automatically debited from the Corporate Bank Accounts; or 11.2 whether a transaction or proposed transaction or any change to arrangements is in contravention of these Orders. 12. For the avoidance of doubt, all of the Banks' rights are preserved and it remains at the Banks' absolute discretion, subject to the terms and conditions set out in the Banks' respective security and facility documentation, as to whether they will make further credit funds available or will permit any changes of facility or security arrangements at the request of the Corporate Defendant and the Corporate Receivers. 13. In exercising the discretion to consent or not to any payment, transfer or disposition contemplated in these orders, the Corporate Receivers have the power to make all necessary and incidental inquiries into the affairs of the Corporate Defendant (including the power to make inquiries in the name of the Corporate Defendant), including inspecting the books and records and any other information held by the Corporate Defendant and or their agents relating to those affairs, and the Corporate Defendant must give the Corporate Receivers such assistance as is reasonably requested by them in the course of such inquiries. 14. The Corporate Defendant, by itself, its servants, agents or employees, must: 14.1 permit the Corporate Receivers ongoing access to the books and records which relate to the Corporate Property including any computer system of the Corporate Defendant; and 14.2 use its best endeavours to assist the Corporate Receivers in the performance of their obligations. 15. The Corporate Receivers have leave to give to any Bank with which the Corporate Defendant or Third Party operates any Corporate Bank Accounts a copy of the affidavit filed by the Corporate Defendant pursuant to Order 5 of the Orders made by this Court on 20 April 2006 in relation to the Corporate Defendant, so as to inform them of the Bank Accounts which are Corporate Bank Accounts. 16.1 Any Bank which holds private and confidential information in relation to its customers which may assist in identifying the Corporate Bank Accounts may be required by written notice from the Corporate Receivers to provide such information to the Corporate Receivers within a reasonable time after having received a written request for such information accompanied by a copy of this order. 16.2 Any Bank which receives such a request from the Corporate Receivers may apply within 7 days from its receipt or such longer period as may be agreed with the Corporate Receivers to be relieved from the obligation of complying with it. 16.3 In the event that no such application is made or that such application is refused, the Bank must comply with the request within a reasonable time or such time as the Court orders. 16.4 The Corporate Receivers may provide any information obtained pursuant to this Order to the Plaintiff. 16.5 The Bank, before complying with any written request shall first give notice to the relevant customers. 17. Any of the following Banks (Westpac Banking Corporation Limited, National Australia Bank Limited and HBOS Australia Limited) which: 17.1 becomes aware of private and confidential information in relation to its customers (which may include, but is not intended to be limited to private and confidential information in relation to the Corporate Defendant); and 17.2 reasonably believes that the private and confidential information may assist the Plaintiff and/or the Corporate Receivers in: 17.2.1 identifying the Corporate Bank Accounts to which these orders apply; or 17.2.2 identifying Corporate Property in a bank account held by a Third Party; or 17.2.3 recovering Corporate Property from a Third Party, may, within a reasonable time, inform the Plaintiff and the Corporate Receivers that it holds information potentially relevant to the above and, after having receipt of a written request for information, must provide such information as may reasonably be required to the Plaintiff and the Corporate Receivers within a reasonable time, after first giving notice to the relevant customer. 18. Nothing in Order 17 requires a Bank to make inquiry of or investigate any customer, transaction or bank account. The 'general' orders 19. The Plaintiff, the Individual Receivers and the Corporate Receivers have leave to give to: 19.1 the relevant authorities that record, control and regulate the ownership of real property; 19.2 the relevant authorities that record, control and regulate the ownership of motor vehicles; 19.3 the relevant authorities that record, control and regulate the ownership of maritime vessels and craft; 19.4 any Bank with which the Corporate Defendant operates any Corporate Bank Accounts; 19.5 any other person or entity holding or controlling property belonging to the Corporate Defendant; and 19.6 any Third Party notice of these Orders by delivering a copy of these Orders to a person apparently in the employ of that entity or person. 20. The Corporate Receivers may report (orally or in writing) to the Plaintiff and to the Court at any time during the course of their receivership regarding: 20.1 the nature of the Corporate Property identified; 20.2 the assets and liabilities of the Corporate Defendant and the solvency of the Corporate Defendant; 20.3 the costs of the receivership, the future course of the receivership and the costs that may be incurred by the Corporate Receivers in the future; and 20.4 any other information in relation to the Corporate Property that the Corporate Receivers think necessary to protect the interests of persons to whom the Corporate Defendant is liable, or may become liable, to pay money, whether in respect of debt, by way of damages or compensation or otherwise, or to account for financial products or other property. 21. The Corporate Receivers may by written notice to the Corporate Defendant require within seven (7) days of the date of such notice, the Corporate Defendant to identify in writing any trusts of which the Corporate Defendant is a beneficiary (including a general beneficiary of a discretionary trust), whether named or otherwise, and to provide the following information concerning such trust: 21.1 the name and address of the trustee; 21.2 a copy of the relevant trust deed (if it has possession, custody or control of the same); and 21.3 any further information or documentation regarding the trust and the management of the trust as requested by the Corporate Receivers and to which the Corporate Defendant is entitled including, but not limited to, the distribution history of the trust. 22. The Corporate Defendant shall authorise the Corporate Receivers to, and the Corporate Receivers shall be entitled to, obtain information regarding the trusts referred to in the preceding paragraph from the trustees of such trusts, including the terms of such trusts, the classes of its beneficiaries and its distribution history, and the Corporate Defendant shall sign all such documents and do all such things necessary to give effect to the granting of such authority. 23. If within ten (10) days of the Receivers or their legal advisers becoming aware of any matter or issue that may give rise to a conflict of interest, they shall seek the advice of counsel in respect of the possible conflict. 24. If counsel is of the view that the matter or issue gives rise to a possible conflict of interest, then the Receivers shall make an application to the Court for appropriate directions. 25. The costs of the Plaintiff's application for these Orders is to be paid by the sixth defendant. 26. The Parties and any third parties affected by these orders have liberty to apply to the Court on the giving of reasonable notice.

The Administrators Orders 27. In regards to the appointment of Martin Bruce Jones and Darren Gordon Weaver on 16 January 2007 as administrators of the Corporate Defendant, the receivers and managers appointed to the company by the Court pursuant to Order 2 cease to perform their functions pursuant to that order until: 27.1 the creditors of the sixth defendant resolve that the administration of the sixth defendant should end under s439C(b) of the Corporations Act 2001 (Cth); or 27.2 further order, 27.3 whichever is the earlier. 28. Orders 3 - 23 of the Orders made by the Court on 30 June 2006 as amended from time to time, in respect to the sixth defendant, be stayed until: 28.1 the creditors of the sixth defendant resolve that the administration of the Sixth Defendant should end under s439C(b) of the Corporations Act 2001 (Cth); or 28.2 further order, 28.3 whichever is the earlier. 29. The administrators of the sixth defendant shall serve upon the Plaintiff and the Receivers and Managers of the sixth defendant: 29.1 copies of the written notice issued by them pursuant to s439A(3) of the Corporations Act 2001 (Cth); and 29.2 any accompaniments to such notice pursuant to s439A(4) of the Act, with such service to be effected at the same time as such documents are served upon the creditors of the sixth defendant. 30. The administrators shall by notice in writing advise the Plaintiff and the Receivers and Managers of the sixth defendant within twenty four hours of the meeting of the creditors of the sixth defendant convened pursuant to s439A of the Corporations Law, of the terms of any resolution or decision made at such creditors meeting.

In respect of the SEVENTH DEFENDANT THE COURT ORDERS THAT:

Orders 2 to 13 made in these proceedings before the Honourable Justice French on 30 June 2006 as amended from time to time in relation to the Seventh Defendant ('Bowesco') are as at the date of these orders replaced by the orders below.

Bowesco, by itself, its servants agents and employees, is restrained until 30 June 2007 or further order, from removing, or causing or permitting to be removed from any State of Australia and from Australia, or selling, charging, mortgaging or otherwise dealing with or disposing of or causing or permitting to be sold, charged, mortgaged or otherwise dealt with or disposed of, all or any of its assets (the 'Bowesco Property'), whether held legally or beneficially by it.

For the purpose of these orders, 'Bowesco Property' includes property which falls within any of the following categories:

3.1 property held in the name of Bowesco; 3.2 property held by Bowesco as trustee for a trust or on behalf of or on account of another person; 3.3 property held jointly in the name of Bowesco and one or more persons or entities not named as a defendant in these proceedings ('Third Party'); 3.4 property held jointly in the name of Bowesco and a Third Party for the express purpose of a joint venture; 3.5 property held by Bowesco jointly with a Third Party, where both Bowesco and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person; 3.6 property held by a Third Party as trustee of a trust, where Bowesco agrees that it is or the Court directs that it is to be held as the effective controller or owner of the trust property; and 3.7 the rights to operate any Bowesco Bank Account (as that term is defined under Order 4A below) and any chose in action in association with such Bank Account,

3.8 such rights or choses in action in relation to any Excluded Bowesco Account (as that term is defined in Order 4A below).

4A For the purposes of these orders, 'Bowesco Bank Accounts' means accounts which fall within any of the following categories:

4A.1 accounts held in the name of Bowesco; 4A.2 accounts held by Bowesco as trustee for a trust or on behalf of or account of another person; 4A.3 accounts held jointly in the name of Bowesco and a Third Party; 4A.4 accounts held jointly in the name of Bowesco and a Third Party for the express purpose of a joint venture; 4A.5 accounts held by Bowesco jointly with a Third Party, where both Bowesco and the Third Party hold the property in their capacity as trustees for a trust or on behalf of or on account of another person,

but does not include the following (collectively, the "Excluded Bowesco Accounts"):

4A.6 such other accounts as notified to the relevant bank, building society or financial institution ("Bank") by the Plaintiff.

Shall not prevent John Patrick Cronin and Shaun Robert Fraser (the 'Bowesco Receivers') from exercising all rights, powers, privileges, benefits, discretions and authorities conferred upon them (either jointly or severally) by:

5.1 a Deed of Charge granted by Bowesco in favour of Suncorp-Metway Limited ('Suncorp'), dated 8 October 2004, registered with the Plaintiff and having charge number 1093803; 5.2 a Mortgage granted by Bowesco in favour of Suncorp, dated 8 October 2004, and registered in the Land Titles Office of Western Australia on and having number J056734; 5.3 a Deed of Appointment of Receiver made 3 April 2006 between Suncorp and the Bowesco Receivers; and 5.4 section 420 of the Corporations Act 2001Cth).

Shall not prevent Bowesco from paying costs reasonably incurred in these proceedings from a Bowesco Bank Account nominated in writing to the Bowesco Receivers in amounts as approved in writing by the Court from time to time.

Shall not prevent Mark Korda and David Winterbottom (the "Option Receivers") from exercising all rights, powers, privileges, benefits, discretions and authorities conferred upon them (either jointly or severally) by:

(a) a Deed of Charge granted by Westpoint Corporation Pty Ltd (Receivers and Managers Appointed) (In liquidation) in favour of Perpetual Nominees Limited as Custodian of The ING Mortgage Pool for ING Funds Management Limited ABN 21003 002 800 as the Responsible Entity of The ING Mortgage Pool ("ING"), dated 28 September 2005, registered with the Plaintiff and having charge number 1298375; (b) a Deed of Appointment of Receiver made 19 July 2006 between ING and the Option Receivers; and (c) section 420 of the Corporations Act 2001.

8.1 exercising any right of set-off which it may have in respect of a facility afforded by it to Bowesco prior to or after the date of this Order; 8.2 enforcing or exercising any security right or interest, existing now or in the future in relation to Bowesco Property; and 8.3 debiting any Bowesco Bank Account with any interest, fees, costs and charges in accordance with the terms and conditions set out in the relevant Bank's security and facility documentation.

For the avoidance of doubt, all of the Banks' rights are preserved under the terms and conditions of the Banks' respective security and facility documentation.

10.1 Any Bank which holds private and confidential information in relation to its customers which may assist in identifying the Bowesco Bank Accounts may be required by written notice from the Plaintiff to provide such information to the Plaintiff within a reasonable time after having received a written request for such information accompanied by a copy of this order.

10.2 Any Bank which receives such a request from the Plaintiff may apply within seven (7) days from its receipt or such longer period as may be agreed with the Plaintiff to be relieved from the obligation of complying with it.

10.3 In the event that no such application is made or that such application is refused, the Bank must comply with the request within a reasonable time or such time as the Court orders.

10.4 The Bank, before complying with any written request shall first give notice to the relevant customers.

Any of the following Banks (Westpac Banking Corporation Limited, National Australia Bank Limited and HBOS Australia Limited) which:

11.1 becomes aware of private and confidential information in relation to its customers (which may include, but is not intended to be limited to private and confidential information in relation to Bowesco); and 11.2 reasonably believes that the private and confidential information may assist the Plaintiff in:

11.2.1 identifying Bowesco Bank Accounts to which these orders apply; or 11.2.2 identifying Bowesco Property in a bank account held by a Third Party; or 11.2.3 recovering Bowesco Property from a Third Party,

may, within a reasonable time, inform the Plaintiff that it holds information potentially relevant to the above and, after having receipt of a written request for information, must provide such information as may reasonably be required to the Plaintiff within a reasonable time, after first giving notice to the relevant customer.

Nothing in Order 11 requires a Bank to make inquiry of or investigate any customer, transaction or bank account.

The Plaintiff has leave to give to any Bank with which Bowesco or any Third Party operates any Bowesco Bank Accounts a copy of the affidavit filed by Bowesco in these proceedings, so as to inform them of the bank accounts which are Bowesco Bank Accounts.

The 'general' orders 14. The Plaintiff has leave to give to: 14.1 the relevant authorities that record, control and regulate the ownership of real property; 14.2 the relevant authorities that record, control and regulate the ownership of motor vehicles; 14.3 the relevant authorities that record, control and regulate the ownership of maritime vessels and craft; 14.4 any Bank with which Bowesco operates any Bank Accounts; 14.5 any other person or entity holding or controlling property belonging to Bowesco; and 14.6 any Third Party,

notice of these Orders by delivering a copy of these Orders to a person apparently in the employ of that entity or person.

The costs of the Plaintiff's application for these Orders is to be paid by the seventh defendant.

The Parties and any other third party affected by these Orders have liberty to apply to the Court on the giving of reasonable notice.

In respect of the EIGHTH DEFENDANT THE COURT ORDERS THAT:

Orders 2 to 23 made in these proceedings before the Honourable Justice French on 30 June 2006 as amended from time to time in relation to the Eighth Defendant (Corporate Defendant) are as at the date of these Orders replaced the Orders below.

Until 30 June 2007 or further order, Brian McMaster and Mark Korda of KordaMentha, Chartered Accountants, of Level 11, 37 St Georges Terrace, Perth, be appointed jointly and severally as receivers and managers (the Corporate Receivers) to property (the Corporate Property), whether within Australia or overseas, of the Corporate Defendant.

For the purpose of these Orders, "Corporate Property" includes property which falls within any of the following categories:

3.1 property held in the name of the Corporate Defendant; 3.2 property held by the Corporate Defendant as trustee for a trust or on behalf of or on account of another person; 3.3 property held jointly in the name of the Corporate Defendant and one or more persons or entities not named as a defendant in these proceedings ('Third Party'); 3.4 property held jointly in the name of the Corporate Defendant and a Third Party for the express purpose of a joint venture; 3.5 property held by the Corporate Defendant jointly with a Third Party, where both the Corporate Defendant and the Third Party hold the property in their capacity as joint trustees for a trust or on behalf of or on account of another person; 3.6 property held by a Third Party as trustee of a trust, where the Corporate Defendant agrees that it is or the Court directs that it is to be treated as the effective controller or owner of the trust property; and 3.7 right to operate any Corporate Bank Account (as that term is defined in Order 4 below) and any chose in action in relation to such account;

3.8 such rights or choses in action in relation to any Excluded Corporate Bank Accounts (as that term is defined in Order 4 below).

For the purpose of these orders, 'Corporate Bank Accounts' means accounts which fall within any of the following categories:

but does not include the following (collectively the 'Excluded Corporate Accounts'):

4.6 such other accounts as notified to the relevant bank, building society or financial institution ("Bank") by the Plaintiff or Corporate Receivers.

The Corporate Receivers have, in respect of the Corporate Property, the following powers:

5.3 the preceding powers shall not extend to the sale, letting or encumbering of such property without prior leave of the Court or the consent of the Corporate Defendant.

The Corporate Receivers (or any one of them) must be appointed a required signatory to all Corporate Defendant Accounts.

Subject to orders 8, 9.3.3 and 10.3, all electronic banking facilities to the extent they allow the conducting of transactions on the Corporate Bank Accounts, will be cancelled and only reinstated upon the written request of the Corporate Receivers and at the relevant Bank's discretion.

Subject to the Corporate Receivers' satisfaction as to the solvency of the Corporate Defendant, the Corporate Receivers may, in relation to the Corporate Defendant, approve:

Upon receipt of confirmation of the approval of the Corporate Receivers (or any one of them), no Bank need inquire as to:

For the avoidance of doubt, all of the Banks' rights are preserved and it remains at the Banks' absolute discretion, subject to the terms and conditions set out in the Banks' respective security and facility documentation, as to whether they will make further credit funds available or will permit any changes of facility or security arrangements at the request of the Corporate Defendant and the Corporate Receivers.

In exercising the discretion to consent or not to any payment, transfer or disposition contemplated in these orders, the Corporate Receivers have the power to make all necessary and incidental inquiries into the affairs of the Corporate Defendant (including the power to make inquiries in the name of the Corporate Defendant), including inspecting the books and records and any other information held by the Corporate Defendant and or their agents relating to those affairs, and the Corporate Defendant must give the Corporate Receivers such assistance as is reasonably requested by them in the course of such inquiries.

The Corporate Defendant, by itself, its servants, agents or employees, must:

The Corporate Receivers have leave to give to any Bank with which the Corporate Defendant or Third Party operates any Corporate Bank Accounts a copy of the affidavit filed by the Corporate Defendant pursuant to Order 5 of the orders made by this Court on 20 April 2006 in relation to the Corporate Defendant, so as to inform them of the Bank Accounts which are Corporate Bank Accounts.

16.2 Any Bank which receives such a request from the Corporate Receivers may apply within 7 days from its receipt or such longer period as may be agreed with the Corporate Receivers to be relieved from the obligation of complying with it.

16.3 In the event that no such application is made or that such application is refused, the Bank must comply with the request within a reasonable time or such time as the Court orders.

16.4 The Corporate Receivers may provide any information obtained pursuant to this Order to the Plaintiff.

16.5 The Bank, before complying with any written request shall first give notice to the relevant customers.

Any of the following Banks (Westpac Banking Corporation Limited, National Australia Bank Limited and HBOS Australia Limited) which:

Nothing in Order 17 requires a Bank to make inquiry of or investigate any customer, transaction or bank account.

The Plaintiff, the Individual Receivers and the Corporate Receivers have leave to give to:

19.1 the relevant authorities that record, control and regulate the ownership of real property; 19.2 the relevant authorities that record, control and regulate the ownership of motor vehicles; 19.3 the relevant authorities that record, control and regulate the ownership of maritime vessels and craft; 19.4 any Bank with which the Corporate Defendant operates any Corporate Bank Accounts; 19.5 any other person or entity holding or controlling property belonging to the Corporate Defendant; and 19.6 any Third Party,

notice of these Orders by delivering a copy of these Orders to a person apparently in the employ of that entity or person.

The Corporate Receivers may report (orally or in writing) to the Plaintiff and to the Court at any time during the course of their receivership regarding:

The Corporate Receivers may by written notice to the Corporate Defendant require within seven (7) days of the date of such notice, the Corporate Defendant to identify in writing any trusts of which the Corporate Defendant is a beneficiary (including a general beneficiary of a discretionary trust), whether named or otherwise, and to provide the following information concerning such trust:

The Corporate Defendant shall authorise the Corporate Receivers to, and the Corporate Receivers shall be entitled to, obtain information regarding the trusts referred to in the preceding paragraph from the trustees of such trusts, including the terms of such trusts, the classes of its beneficiaries and its distribution history, and the Corporate Defendant shall sign all such documents and do all such things necessary to give effect to the granting of such authority.

If within ten (10) days of the Receivers or their legal advisers becoming aware of any matter or issue that may give rise to a conflict of interest, they shall seek the advice of counsel in respect of the possible conflict.

If counsel is of the view that the matter or issue gives rise to a possible conflict of interest, then the Receivers shall make an application to the Court for appropriate directions.

The costs of the Plaintiff's application for these Orders is to be paid by the eighth defendant.

At a glance

Court

Decision date

Before

Source

Judgment (314 paragraphs)

Parties

Legislation Cited (1)