The Commissioner has been successful before the Federal Court in obtaining a freezing order against the first respondent up to 26 June 2014, at which time a directions hearing was to be held. Likewise, the other respondents were restrained from disposing of or diminishing the value of any assets they held on behalf of the first respondent until the freezing order were discharged. The orders applied to any assets of the first respondent in Australia up to $A14.27m and included extensive shareholdings. At the same time, the Court granted the Commissioner leave to serve the freezing order documents on the first respondent in Switzerland.
(FCT v Growth Investment Fund SA & Ors [2014] FCA 780, Federal Court, Gilmour J, 28 July 2014.)
(FJM Note: Gilmour J made orders on 19 June 2014, freezing the assets until only 26 June 2014 (as noted), reserving reasons which were delivered on 28 July 2014 as noted.)
[LTN 143, 28/7/14]