Smith v Acquire Asia Pacific Philippines Inc (No 2)

Smith brought proceedings against Acquire Asia Pacific Philippines Inc in the Supreme Court of New South Wales. Smith sought damages for breach of contract and unjust enrichment. The defendant sought an order freezing part of an amount held in escrow pending the determination of a cross-claim. The parties had previously agreed to hold an amount of US$11.2 million in escrow, pending the outcome of the proceedings. The defendant sought to freeze US$1.2 million of that amount, pending the outcome of the cross-claim.

The court was required to consider whether the evidence supported the finding that there was a danger that a prospective judgment would be unsatisfied. The court noted that the evidence showed that the defendant had made payments to the plaintiff in the past, and that the plaintiff had acknowledged receipt of those payments. The court was also required to consider whether the defendant had made out a prima facie case on the cross-claim. The court found that the defendant had not made out a prima facie case on the cross-claim.

The court found that there was no danger that a prospective judgment would be unsatisfied. The evidence showed that the defendant had made payments to the plaintiff in the past, and that the plaintiff had acknowledged receipt of those payments. The court also found that the defendant had not made out a prima facie case on the cross-claim. The court dismissed the defendant's application for an order freezing part of the amount held in escrow.