Federal Court of Australia
anes
Terms - UL
MENT No[® 7 3D
CATCHWORDS
COMPANY LAW - liquidators - application of the Rule in Foss v Harbottle - decision by liquidator to discontinue action - motion to bring a derivative action - whether there is exception to the Rule so as to permit an action to be brought or continued by a contributory in name of company if this is in the interests of justice -— whether such exception, if it existed, would apply to companies in liquidation - role of the Court having control of the liquidation.
Federal Court of Australia Act 1976 sub-s. 5 (2)
Companies (NSW) Code 1981 ss. 374, 377 and 574
CORAM: GUMMOW J. DATE: 10 FEBRUARY 1988
PLACE: SYDNEY
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NEW SOUTH WALES DISTRICT REGISTRY) - GENERAL DIVISION )
CORAM: DATE: PLACE:
| | { | | IN THE FEDERAL COURT OF AUSTRALIA) {
No. G513 of 1986
BETWEEN: SCAREL PTY. LIMITED Applicant
AND: CITY LOAN & CREDIT CORPORATION PTY. LIMITED Respondent
No. G277 of 1987
BETWEEN: IAN FRANCIS YATES Applicant
AND: CITY LOAN & CREDIT
CORPORATION PTY. LIMITED Respondent
No. B371 of 1987
RE: IAN FRANCIS YATES Debtor AND: CITY LOAN & CREDIT CORPORATION PTY. LIMITED Creditor GUMMOW J. 10 FEBRUARY 1988 SYDNEY
MINUTES OF ORDER
THE COURT ORDERS THAT:
} (1)
(2)
NOTE:
The motions filed on 11 December 1987 in each of matters Nos. G513 of 1986, G277 of 1987 and B371 of 1987 be dismissed.
The Applicant on the motion pay the Respondent's costs of the motion including the costs incurred on 17 December 1987.
SETTLEMENT AND ENTRY OF ORDERS IS DEALT WITH IN ORDER
36 OF THE FEDERAL COURT RULES.
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IN THE FEDERAL COURT OF AUSTRALIA) NEW SOUTH WALES DISTRICT REGISTRY) GENERAL DIVISION )
No. G513 of 1986
BETWEEN: SCAREL PTY. LIMITED Applicant
AND: CITY LOAN & CREDIT CORPORATION PTY. LIMITED Respondent
No. G277 of 1987
BETWEEN: IAN FRANCIS YATES Applicant
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