Monday 11 December 2006 LAWFUEL – Law News, Law Jobs Network – Former directors of Neolido Holdings Pty Ltd and Neo Lido Pty Ltd, Mr Richard Spencer and Ms Silvana Perovich have been refused an application for special leave to appeal by the High Court of Australia. This application follows a decision by the Court of Appeal on 28 July 2006 to dismiss a number of appeals lodged by Mr Spencer and Ms Perovich after an order winding up Neolido Holdings Pty Ltd and Neo Lido Pty Ltd was made in the Supreme Court in November 2005.
The questions of law which the applicants considered justified an application to the High Court included: �� whether section 253 of the Supreme Court Act 1995 applied to the Court of Appeal; and �� whether the Court of Appeal was entitled to substitute its own discretion for that of the primary judge, who determined on a discretionary basis that ASIC should pay the costs of the liquidator in its application to wind up Neolido Holdings Pty Ltd and Neo Lido Pty Ltd. Justices Callinan and Hayne dismissed the application with costs, stating it had insufficient prospects of success and did not contain any issues which were of public interest. For further information contact: Jan Redfern Executive Director, Enforcement Telephone: 02 9911 2191 Mobile: 0411 119 210 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310