Trade Practices Commission v Arnotts Ltd

[1990] FCA 88

Re: TRADE PRACTICES COMMISSION
And: ARNOTTS LIMITED; ARNOTT'S BISCUITS LIMITED; FLEDSPAC PTY LIMITED and THE
DICKENS CORPORATION PTY LIMITED
No: G1316 of 1988
FED No. 88

COURT

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY
GENERAL DIVISION
Beaumont J.(1)

HEARING

SYDNEY

#DATE 1:2:1990

ORDER

Declaration that the agreement dated 24 November 1988 between the second and third respondents (Ex. AEN) is and has been void since 27 November 1988.

Order that the second respondent be restrained, by itself, its servants or agents or otherwise howsoever from taking any step to acquire, offering to acquire, or acquiring directly or indirectly:

(i) any shares in the capital; or

(ii) any interest, legal or equitable, in any shares in the capital of the third respondent or the fourth respondent, whilst Cereal

Foods Pty. Limited remains a subsidiary of the Earth Respondent and conducts a business of, or including, the manufacture or supply of biscuits in Australia.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

JUDGE1

In my reasons for judgment in the principal proceedings given on 31 January, I indicated that the parties would be given an opportunity to make submissions in respect of the question of further relief. I have heard brief submissions. In my opinion, consistently with my earlier reasons, it is appropriate that I now declare the option agreement void. It further follows that an appropriate injunction should be granted. For these reasons, I make the following additional orders:

"5. Declaration that the agreement dated 24 November 1988

between the second and third respondents (Ex. AEN) is

and has been void since 27 November 1988.

6. Order that the second respondent be restrained, by

itself, its servants or agents or otherwise howsoever

from taking any step to acquire, offering to acquire, or

acquiring directly or indirectly:

(i) any shares in the capital; or

(ii) any interest, legal or equitable, in any shares

in the capital of the third respondent or the

fourth respondent,

whilst Cereal Foods Pty. Limited remains a subsidary of the

4th Respondent and conducts a business of, or including

and conducts a business of, or including, the manufacture

or supply of biscuits in Australia."