Australian Prudential Regulation Authority v Siminton (No 9)

FEDERAL COURT OF AUSTRALIA

Australian Prudential Regulation Authority v Siminton (No 9) [2007] FCA 1714

PRACTICE AND PROCEDURE – Notice of motion – Application seeking release of funds for the purpose of paying legal fees – Where judgment in the principal proceeding found that the respondent had no legal right to use the funds – Application refused

PRACTICE AND PROCEDURE – Notice of motion – Application for stay of an order imposed by a Full Court pending the hearing of a proposed appeal – Where respondent found to be in contempt of that order – Where Full Court did not confer on a single judge of the Court the power to vary its orders or delay their implementation – Application refused

PRACTICE AND PROCEDURE – Notice of motion – Application to stay the implementation of the judgment in the principal proceeding in respect of the appointment of a receiver, pending the hearing of a proposed appeal – Where the respondent’s application for a stay was filed before the actual form of the orders was known – Whether proposed appeal is genuine and based on reasonably arguable grounds – Stay application adjourned to allow the respondent to consider orders and draft a notice of appeal

Banking Act 1959 (Cth) ss 7, 66

Andrews v John Fairfax & Sons Limited [1979] 2 NSWLR 184 referred to
Australian Prudential Regulation Authority v Siminton (No 6) [2007] FCA 1608 cited
Siminton v Australian Prudential Regulation Authority (2006) 152 FCR 129 referred to
Australian Prudential Regulation Authority v Siminton(No 8) [2007] FCA 1612 cited

AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY v DAVID ROBERT SIMINTON
VID 1607 OF 2005

TRACEY J
15 NOVEMBER 2007
MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY	VID 1607 OF 2005

BETWEEN:	AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY Applicant
AND:	DAVID ROBERT SIMINTON Respondent

JUDGE:	TRACEY J
DATE OF ORDER:	7 NOVEMBER 2007
WHERE MADE:	MELBOURNE

THE COURT ORDERS THAT:

1.The notice of motion dated 5 November 2007 as to paragraph 2 be adjourned to 15 November 2007.

2.The notice of motion dated 5 November 2007 as to paragraphs 1 and 3 be dismissed.

3.Costs reserved.

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	VID 1607 OF 2005

BETWEEN:	AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY Applicant
AND:	DAVID ROBERT SIMINTON Respondent

JUDGE:	TRACEY J
DATE:	15 NOVEMBER 2007
PLACE:	MELBOURNE

REASONS FOR JUDGMENT

1. On 26 October 2007 I delivered judgment in this proceeding:  see Australian Prudential Regulation Authority v Siminton (No 6) [2007] FCA 1608. I found that Mr Siminton was a person who had carried on and was proposing to carry on the business of banking in Australia and that such conduct constituted or would constitute a contravention of s 7 of the Banking Act 1959 (Cth) (“the Act”). I also found that Mr Siminton had engaged in conduct which contravened s 66 of the Act. I foreshadowed making injunctive orders to restrain Mr…