The Supreme Court of New South Wales today extended orders against Mr Neil Austin Burnard, Palentia Pty Ltd formerly known as Kebbel (NSW) Pty Ltd, Jennifer Lee Robbins and BDI Pty Ltd (the Burnard parties) in proceedings brought by ASIC.

The orders of 20 December 2006 were extended by consent and without admissions to 30 July 2007.

Ms Robbins is the wife of Mr Burnard. BDI is the trustee of several trusts of which members of the Burnard family are beneficiaries. Ms Robbins is the only shareholder of BDI and Ms Robbins and Mr Burnard are the sole directors.

The orders prevent Mr Burnard and Palentia from disposing of their assets until 5pm on 30 July 2007, subject to Mr Burnard and Palentia paying certain expenses including ordinary living and operating expenses, school fees for Mr Burnard’s children, and legal expenses.

The orders prevent Ms Robbins from selling or disposing of certain properties without first having given ASIC 14 clear days written notice of its intention to do so.

In relation to other properties which have already been sold, the orders direct BDI to pay the proceeds of sales into an interest-bearing account with the National Australia Bank in the name of BDI and to not transfer or otherwise deal with the proceeds without first having given ASIC 14 clear days written notice of its intention to do so.

The orders also direct the Supreme Court to deliver any passports of Mr Burnard held by it to ASIC. ASIC had previously obtained orders restraining Mr Burnard from leaving the country and to deliver up all passports to the Supreme Court.

The parties have liberty to apply to the Supreme Court in relation to these orders.

The matter will return to the Supreme Court of New South Wales for a further hearing at 10am on 30 July 2007