This case, Australian Securities & Investment Commission (ASIC) in the matter of Northwest Resources Limited v Craigside Company Limited BVI company number 74124 named in the Schedule  FCA 201 considered when it is appropriate for civil proceedings to be stayed where there is a possibility of criminal prosecution relating to the same subject matter.
ASIC commenced proceedings seeking declarations that the second and third defendants (Defendants) had breached the Corporations Act 2001 (Cth). The Defendants sought orders to stay the proceedings until ASIC determined whether or not it would prosecute them criminally for the breach. ASIC acknowledged that future criminal proceedings were a possibility.
Please see full update below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.