W Advisers has been assisting a longstanding Canadian Fund client in bringing contractual claims and misleading and deceptive conduct claims following alleged defaults relating to monies advanced by the Fund for an Australian project.
The client became concerned regarding potential misuse of the funds advanced and requested that W Advisers undertake a legal investigation into that issue.
Following the investigation, W Advisers were instructed to seek freezing orders. A freezing order is an interlocutory (interim) order which restrains a defendant or potential defendant from disposing of or dissipating assets. In certain circumstances such orders can be sought even before the persons to whom the orders apply obtain notice of them (that is, on a temporary “ex parte” basis).
W Advisers acted for the Fund in obtaining ex parte freezing orders against not only the Defendant but also a further potential defendant.
The freezing orders sought and obtained against those persons included an order that they disclose their assets to the Fund.
This puts the Fund in a significantly improved position in the litigation because, even before obtaining and then enforcing judgment, it will (i) have quasi-security while the orders remain in force, (ii) be able to ascertain the value of assets against which it can enforce any judgment, and (iii) assist the Fund to expedite enforcement of any judgment in due course.
The W Advisers team included Mark Wilson and litigation specialist Trevor Withane, who were assisted by Cheryl Fender, Albert Cheung, Sara Heckhoff and Janina Cajska.
For further details please contact any of our team members.
Tel: + 61 410 400 150