The Supreme Court of Western Australia granted ex parte freezing orders over a property and its net sale proceeds in favour of a liquidator pursuing insolvent trading and voidable transaction claims against a company's sole director and a de facto director/shareholder. The court found a good arguable case for insolvent trading based on the statutory presumption of insolvency under s 588E of the Corporations Act arising from failure to keep financial records, and found sufficient risk of dissipation based on the property being under offer for sale, the first defendant's uncooperative conduct during liquidation, evidence of regular international money transfers, and the dishonesty underlying the claims. The court declined to make ancillary asset disclosure orders on an ex parte basis, reserving that question for the inter partes return date.
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