Velorne Pty Ltd v. N.M. Rothschild & Sons Ltd & Ors [1985] FCA 511

"SI

(THO TER EME COURT oP THE

MUSTESETAN CAPTTS LL TREE LTOE 7

y

VENERSL OIVTSTON

Tit THE MATTER AF INTRENZTLTONal PACTFIC COPPOFATION CHOLMINGE: ST CUMITEr AND

iN TRF MATTER OF THR comMeantee scT LSEL PECPERN : VELCENE PTY LIMITER Plaintiff WID- MM. FOTHECHTLD & SONS LIMITED

MM. POTHSCHILD & CONE «CT. LIMITFH

YTEMISEY PTY. LIMITED Third Defendant

HAPPTS PANFCOPP. INC.

Fourth Defendant

' IMTFPNATTIONAL PACIFIC capespation } (HOLDINGS) PTY. LIMITED

Pifth Defendant

EVELYN DE POTHECHILD

Sixth Cerendanr TOHM LOUDAN Seventh Detendant

FUSSELL PHTLLIP ERE

E,4tnth Deteraant

FORFPT VANDEM BOSCH

Ninth Defenaant

CHP TS TOPHRE SITCOM

Tentn Defeaniaant

HELETIAaM PUSSREL Mc TUMOM

13 September 1985

PRASANS FOP THOGMENT

LOCKHAPT I

This .u

uw

a dispute between the shareholders of a compan, International Pacific Corporation Holdings Pty. Limited 'f"the Tompany")., which 1¢ the holding company for a group of companies jTarrying on merchant banking business. The three interests may be Prietly aescribed as, first, the Pothschild interests which contecl =4 rercent or the company; tne Harris interests based in Canada which contrtl 20 percent; and the interests of Velorne Pt. Limited, a

comrany controlled be a Mr. Graham, which holds a 29 percont interest.

Farlier this afternoon, on the application of the plaintitf "Taloens Ptr. Limited, I granted an ex parte anjunction ta subsist sup £2 and incluaing Weanesday of nezt week restraining the defendarntcr -ho, aim the main. are thot shareholding interests apart from the

Velorne interest

tH

. (jche company itself, ana the var1ous directors

ia}

nimipited by the intersetz not cinder tne control of the rlaintiff from

taking xzteps ta remove Mr Graham a3 director, managing director or thier amecutivte ef Ehe cemranz ac of FPoathechild Australia Limited 'ehien, af Tounderstand it, 1s one crt the cpaerating mibsinarar1es 71