Australian Securities and Investments Commission v Young & Ors [2003] QSC 123

jaoo3] G3e 1 State Reporting Bureau Queensland Government Department of Justice and Attorney-General Transcript of Proceedings Copyright in this transcript is vested in the Crown. Copies thereof must not be made or sold without the written authority of the Director, State Reporting Bureau. f revised copies Issued j j State Reporting Bureau i SUPREME COURT OF QUEENSLAND CIVIL JURISDICTION MUIR J No S745 of 2003 AUSTRALIAN SECURITIES AND INVESTMENTS Applicant COMMISSION and KEVIN YOUNG First Respondent and KATHLEEN CLAIR YOUNG Second Respondent and THE INVESTORS CLUB LIMITED Third Respondent (ACN 077 935 865) and LISSON PTY LTD Fourth Respondent (ACN 069 072 742) and SELF HELP INVESTORS GROUP PTY LTD Fifth Respondent (ACN 074 114 319) WARNING: The publication of information or details likely to lead to the identification of persons in some proceedings is a criminal offence. This is so particularly in relation to the identification of children who are involved in criminal proceedings or proceedings for their protection under the Child Protection Act 1999, and complainants in criminal sexual offences, but is not limited to those categories. You may wish to seek legal advice before giving others access to the details of any person named in these proceedings. 1 4th Floor, The Law Courts, George Street, Brisbane, Q. 4000 Telephone: (07) 3247 4360 Fax: (07) 3247 5532 -- 1 of 4 -- and CLUB LOANS PTY LTD Sixth Respondent (ACN 096 339 150) BRISBANE ..DATE 14/03/2003 JUDGMENT 14032003 T01/RP16 M/T 1/2003 (Muir J) 2 -- 2 of 4 -- 14032003 T01/RP16 M/T 1/2003 (Muir J) HIS HONOUR: I order in terms of the draft initialled by me, copies of which will now be provided to you. I have a couple of observations to make. The first is that if, on the part of the applicant, there is any disappointment in the limited scope of the order I have made, the applicant can take solace in the fact that, if I had made an order in the terms requested by it, it would not have applied to any of the participants in any of the subject schemes . And a glance at the definition of each scheme in paragraph A where it is confined to the promotion of property developments to members of the third respondent will show why that is so. I did not, as it turned out, get a great deal of help from the document provided. As for the respondents, it would certainly be desirable if they could curb what seems to be their natural tendency to disseminate misleading information, particularly in relation to the contents of pronouncements made in the Court. There are plenty of examples of that sort of conduct, or more appropriately, misconduct. I have given liberty to apply, and one occasion in which that liberty might be able to be exercised is if the respondents 3 JUDGMENT -- 3 of 4 -- persist in that form of conduct, in which case it may be necessary to make orders which are somewhat more draconian. Before we depart I will invite you gentlemen to look at the text of that letter which I am requiring be despatched to see whether you notice any obvious defects in it. That is in paragraph 7B. 14032003 T01/RP16 M/T 1/2003 (Muir J) 4 JUDGMENT -- 4 of 4 --