½ñÈÕÈÈÃÅʼþ

Following an ½ñÈÕÈÈÃÅʼþapplication, the Federal Court in Perth has made interim asset preservation orders by consent of the parties against Peter Neil Landau, a Western Australia-based director of ASX-listed company Continental Coal Limited. Mr Landau has consented to similar Court orders against two companies of which he is sole director, OKAP Ventures Pty Ltd and Doull Holdings Pty Ltd. 

½ñÈÕÈÈÃÅʼþobtained these orders in connection with its ongoing investigation into matters including the use of investor's subscription moneys at a time when they were required by law to be held on trust. ½ñÈÕÈÈÃÅʼþsought interim orders pending the outcome of its investigation, with the aim of preserving the interests of investors. Mr Landau will have an opportunity to present his views on the matter to the Federal Court in the New Year. 

The orders were originally made by the Court in Mr Landau's absence on 8 December 2015, followed by the making of further orders with Mr Landau's consent on 22 December 2015.

½ñÈÕÈÈÃÅʼþhas no further comment at this time.

Editor's note 1:

The matter has been listed for further hearing on 26 April 2016.

Editor's note 2:

Following a fresh application by ½ñÈÕÈÈÃÅʼþin its ongoing proceedings against Mr Landau in the Federal Court in Perth, the Court has, with the consent of the parties, made interim orders requiring Mr Landau to surrender his passport(s) to the Court Registry until the day after the proceedings are next in Court, being 26 April 2016. 

Mr Landau's Solicitor informed the Court that Mr Landau had consented to the orders on an interim basis, without accepting that the application was properly made by ASIC, so as to allow time for him to file evidence with the Court.  

The orders also prohibit Mr Landau from applying for a new passport during the same period.   

½ñÈÕÈÈÃÅʼþsought these orders in connection with its ongoing investigation, with the aim of preserving the interests of investors.

Editor's note 3:

On 26 April 2016, the Court heard ASIC's application for the extension of interim orders regarding the surrender of Mr Landau's passport to the Court Registry.

Following submissions to the Court by both parties, the application was resolved by the parties consenting to Court orders which allow Mr Landau to travel to the United Kingdom for a short period of time. Under the orders, Mr Landau is permitted to travel to the United Kingdom on 29 April 2016, but is required to return to Australia on 8 May 2016. While overseas, Mr Landau is required to reside only in the United Kingdom. Mr Landau is required to re-submit his passport to the Court Registry on 9 May 2016, where it is to remain until 31 May 2016. 

Interim asset preservation orders made with the consent of the parties also remain in place against Mr Landau and two companies of which he is sole director, OKAP Ventures Pty Ltd and Doull Holdings Pty Ltd. 

Mr Landau has consented to the orders made in this proceeding, without accepting that the application was properly made. 

Editor's note 4:

Notification to parties regarding Okap Ventures Pty Ltd and Doull Holdings Pty Ltd

On 7 December 2015, the Federal Court made Asset Preservations Orders by consent of the parties against Peter Neil Landau and two companies of which he was the sole director, Okap Ventures Pty Ltd (Okap) and Doull Holdings Pty Ltd (Doull). The orders were discharged against Mr Landau on 11 March 2019 however remain in place against Okap and Doull.

½ñÈÕÈÈÃÅʼþwishes to notify the public that the Asset Preservation Orders against Okap and Doull may be discharged at the next case management hearing in this matter on 3 February 2020.

Any individuals who believe that they may be an ‘aggrieved person’ and require the Asset Preservation Orders to remain in place should contact ½ñÈÕÈÈÃÅʼþby no later than Monday, 20 January 2020 and provide ½ñÈÕÈÈÃÅʼþwith a general statement as to the basis of any claim. Please notify ½ñÈÕÈÈÃÅʼþby contacting Brieanna Mercer at Brieanna.mercer@asic.gov.au.

If ½ñÈÕÈÈÃÅʼþis not contacted by any individual ‘aggrieved persons’ by this time ½ñÈÕÈÈÃÅʼþwill seek that the Asset Preservation Orders against Okap and Doull be discharged.