Lion Nathan Australia Pty Ltd v Coopers Brewery Ltd [2006] FCAFC 144

FEDERAL COURT OF AUSTRALIA

Lion Nathan Australia Pty Ltd v Coopers Brewery Ltd [2006] FCAFC 144 CORPORATIONS – construction of company's articles of association – whether articles require compliance with pre-emptive rights regime for share buy-back – relevant circumstances at time of buy-back - whether regard may be had to extrinsic materials in interpreting articles Australian Securities and Investments Commission Act 2001 (Cth), s 12CA, s 12DA Companies Code (Cth), s 133BC, s 133DA Corporations Act 2001 (Cth), Div 2 of Pt 2J.1, s 124, s 125, s 129, s 140(1), s1041H Corporations Law (Cth), s 206CA, s 206DA, s 615, s 633(c) Angostura Bitters (Dr JGB Siegert and Sons), Limited v Kerr [1933] AC 550 cited Australian Broadcasting Commission v Australasian Performing Right Association Ltd (1973) 129 CLR 99 referred to Australian Securities Commission v Marlborough Gold Mines Ltd (1993) 112 ALR 627 referred to Bailey v New South Wales Medical Defence Union Ltd (1995) 184 CLR 399 cited Bowler v Hilda Pty Ltd (2001) 112 FCR 59 referred to BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 26 referred to Bratton Seymour Service Co Ltd v Oxborough [1992] BCLC 693 cited Buche v Box Pty Ltd (1993) 31 NSWLR 368cited CIC Insurance Limited v Bankstown Football Club Limited (1997) 187 CLR 384 referred to Codelfa Construction Proprietary Litd v State Rail Authority (1982) 149 CLR 337 cited Coles Myer Ltd v Commissioner of State Revenue [1998] 4 VR 728 cited Corporate Affairs Commission of New South Wales v Yuill (1991) 172 CLR 319cited Cotman v Brougham [1918] AC 514 cited Egyptian Salt and Soda Company, Limited v Port Said Salt Association, Limited [1931] AC 667 referred to Equitable Life Assurance Society v Hyman [2002] 1 AC 408 referred to Equuscorp Pty Ltd v HGT Investments Pty Ltd (2004) 218 CLR 471 referred to Genossenschaftsbank v Burnhope [1995] 1 WLR 1580cited Greenhalgh v Arderne Cinemas, Ltd [1946] 1 All ER 512 cited Holmes v Keyes [1959] Ch 199cited Industrial Equity Limited v Blackburn (1977) 137 CLR 567cited Investors Compensation Scheme Ltd v West Bromwich Building Society [1998] 1 WLR 896 cited Lion Nathan Australia Pty Ltd v Coopers Brewery Limited (2005)223 ALR 560 affirmed London Financial Association v Kelk (1884) 26 Ch D 107referred to McNeil v McNeil's Sheepfarming Co Ltd [1955] NZLR 15 cited National Roads and Motorists' Association Ltd v Parkin (2004) 60 NSWLR 224 referred to Norths Ltd v McCaughan Dyson Capel Cure Ltd (1988) 12 ACLR 739 referred to Oakbank Oil Company v Crum (1882) 8 App Cas 65 cited Pacific Carriers Ltd v BNP Paribas (2004) 218 CLR 451 applied Pilmer v Duke Group Ltd (in liquidation) (2001) 207 CLR 165 cited Prenn v Simmonds [1971] 1 WLR 1381cited Rayfield v Hands [1960] 1 Ch 1 cited Re Blue Arrow plc [1987] BCLC 585 referred to Re Exchange Banking Company; Flitcroft's Case [1882] 21 Ch D 519 cited Re GIGA Investments Pty Ltd (in admin) (1995) 17 ACSR 472 referred to Reardon Smith Line Ltd v Yngvar Hansen-Tangen [1976] 1 WLR 989cited Royal Botanic Gardens and Domain Trust v South Sydney City Council (2002) 186 ALR 289referred to Santos Ltd v Pettingell (1979) 4 ACLR 110referred to Scott v Frank F Scott (London), Limited [1940] Ch 794referred to Simon v HPM Industries (1989) 15 ACLR 427 cited Stanham v The National Trust of Australia (New South Wales) (1989) 15 ACLR 87 cited Stillwell Trucks Pty Ltd v Nectar Brook Investments Pty Ltd (1993) 115 ALR 294 cited The Mutual Home Loans Fund of Australia (Qld) Ltd v The Commissioner for Corporate Affairs [1978] Qd R 487 referred to Toll (FGCT) Pty Limited v Alphapharm Pty Limited (2004) 219 CLR 165 applied Tosich v Tosich Construction Pty Ltd (1993) 10 ACSR 590 cited Upper Hunter Country District Council v Australian Chilling and Freezing Co Ltd (1967) 118 CLR 429 cited