AAS and Korchinski in court action

9 May 2007
| By Mike |

Australian Administration Services (AAS) has unsuccessfully pursued legal action in the Federal Court against its former chief executive, Stuart Korchinski, alleging that he downloaded confidential information that might have been used by its competitor superannuation administration company, Citistreet.

The case was heard in the Federal Court earlier this month before Justice J Stone, with AAS seeking interlocutory injunctions that would have restrained Korchinski from performing services directly or indirectly for Citistreet.

According to the Judge’s reasons for judgement, the applicants (AAS) claimed that shortly before leaving their service to commence employment with Citistreet, a major competitor, Korchinski downloaded confidential information belonging to the applicants onto a portable hard drive without the knowledge of senior executives of AAS.

Justice Stone declined to grant the injunctions, pointing out that while he was not convinced by Korchinski’s explanation about why he needed to download “an astonishing volume of material onto a portable hard drive”, there was no evidence that he had retained the material.

“In the absence of any evidence that Mr Korchinski retains some or all of the confidential information of the applicants, the applicants have not succeeded in presenting a prima facie case in support of the relief they seek,” Justice Stone said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 5 months ago
Kevin Gorman

Super director remuneration ...

1 year 5 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 5 months ago

Risk management is a big part of CFD trading. Discover how to reduce risk when trading, and increase the potential for a profitable return from a CFD strategy....

6 years 9 months ago

Having finalised its partnership with IFM Investors just last week, UK pension fund Nest has confirmed its first major investment in the form of an infrastructure debt fu...

3 days 3 hours ago

Australia’s industry super funds have come under fire for distorting equity markets and inflating Commonwealth Bank’s share price, with investment chiefs warning that the...

3 days 5 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
91.29 3 y p.a(%)
2
3