Jorgensen, Alan Bradley v Australian Securities and Investments Commission Summary

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY

VG 3413 of 1998

BETWEEN:

ALAN BRADLEY JORGENSEN
APPLICANT

AND:

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
RESPONDENT

JUDGE:

HEEREY J

DATE:

23 DECEMBER 1998

PLACE:

MELBOURNE

REASONS FOR JUDGMENT

I am satisfied there should be a stay in this matter. I take into account the fact that there can be a hearing relatively soon, that is on 3 March 1999. There has already been a substantial lapse of time since the show cause notice was served in February of this year so there is, in the overall scheme of things, not a great deal of extra time taken up. Without going to the detail, I have read the applicant’s written submissions filed on 22 December 1998. I am satisfied they raise a number of points of substance (see Faingold v Zammit (1984) 1 FCR 87 at 91, Otter Gold Mines Ltd v Forrest (1997) 22 ACSR 713 at 716).

There remain, of course, at this stage arguable points and no more. What Mr Hiland says in opposition may carry the day but I think sufficient has been shown to warrant a stay. I do have regard also to the circumstance that it does not appear to be suggested that any of the conduct alleged against the applicant was of a fraudulent nature. So I will order that the time for service of the applicant’s notice of motion is abridged to the day before the date fixed for the motion.

I will direct further affidavits by the applicant by 15 January; respondent’s affidavits by 15 February, both parties file statements of fact, issues and contentions by 28 February; the matter is fixed for hearing on 3 March, with an estimate of one day; and that the costs of this application are reserved.

I certify that this and the preceding page are a true copy of the Reasons for Judgment herein of the Honourable Justice Heerey

Associate:

Dated: 23 December 1998

Counsel for the Applicant: Mr G A A Nettle QC with Mr R Hay

Solicitors for the Applicant: McHenry & Co

Counsel for the Respondent: Mr P Hiland

Solicitor for the Respondent: Australian Securities and Investments Commission

Date of Hearing: 23 December 1998

Date of Judgment: 23 December 1998

CaseChat Overview and Summary

Alan Bradley Jorgensen applied for a stay of proceedings in a matter brought by the Australian Securities and Investments Commission (ASIC). The Federal Court of Australia, Victoria District Registry, presided over by Justice Heerey, heard the application on 23 December 1998. The central legal issue was whether the court should grant a stay of proceedings, considering the applicant's written submissions and the arguable points raised. The court needed to assess the applicant's points of substance and whether they warranted a stay, as well as the timing and the potential impact on the proceedings.

Justice Heerey decided to grant a stay in the matter, acknowledging the applicant's written submissions as substantial and noting that a hearing could occur soon. The court considered the substantial lapse of time since the show cause notice was served and the absence of fraudulent conduct allegations against the applicant. The judge also took into account the applicant's argument that a stay would not significantly delay the proceedings. As a result, Justice Heerey ordered a stay and set a timeline for further affidavits, statements of fact, issues and contentions, and a hearing date. The costs of the application were reserved.

The court's decision was based on the applicant's submissions, the timing of the proceedings, and the arguable points raised. The stay granted aimed to balance the need for a prompt hearing with the applicant's right to adequately address the legal issues. The judge directed the parties to file further affidavits, statements of fact, issues and contentions, and set a hearing date for 3 March 1999. The costs of the application were reserved for a later determination.

Jorgensen, Alan Bradley v Australian Securities and Investments Commission

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established

IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY	VG 3413 of 1998

BETWEEN:	ALAN BRADLEY JORGENSEN APPLICANT
AND:	AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION RESPONDENT

JUDGE:	HEEREY J
DATE:	23 DECEMBER 1998
PLACE:	MELBOURNE

Counsel for the Applicant:	Mr G A A Nettle QC with Mr R Hay
Solicitors for the Applicant:	McHenry & Co
Counsel for the Respondent:	Mr P Hiland
Solicitor for the Respondent:	Australian Securities and Investments Commission
Date of Hearing:	23 December 1998
Date of Judgment:	23 December 1998