Trade Practices Commission v Santos Limited

The Trade Practices Commission (applicant) sought an interlocutory injunction against Santos Limited and Sagasco Holdings Limited (respondents) in the High Court of Australia. The application concerned proceedings that had previously been heard by the Full Court, which had handed down its judgment on the Monday preceding this hearing. The core of the dispute involved the timing of the dispatch of offer documents to shareholders, with the Australian Securities Commission having extended the deadline to 16 November.

The legal issues before the High Court revolved around the grant of an interim injunction. Specifically, the court considered whether to grant an injunction to restrain the respondents from proceeding with certain actions until a specific time, given that the grant or refusal of interlocutory relief might effectively determine the entire proceedings. The court also had to assess the balance of convenience in light of the expedited hearing of an application for special leave to appeal.

The court's reasoning was guided by the principle that an injunction would typically only be granted if there was at least some prospect of an appeal succeeding. However, in this instance, the court noted that the grant or refusal of interlocutory relief could be determinative of the substantive proceedings. The court considered the timing of the offer documents and the fact that the Santos Board had not yet met to consider its position following the Full Court's judgment.

The court proposed to list the application for special leave for a specific time on the following Friday, with the understanding that it would be a short hearing. In the interim, the court considered granting an injunction until 12 noon on that Friday, subject to submissions from the parties. The respondents indicated reluctance to provide an undertaking, stating it was unnecessary and inappropriate.