Smartec Capital Pty Limited v Centro Properties Limited [2011] FCA 716

FEDERAL COURT OF AUSTRALIA

Smartec Capital Pty Limited v Centro Properties Limited [2011] FCA 716 Citation: Smartec Capital Pty Ltd v Centro Properties Limited [2011] FCA 716

Parties: SMARTEC CAPITAL PTY LIMITED v CENTRO PROPERTIES LIMITED ACN 078 590 682 and CPT MANAGER LIMITEDACN 054 494 307

File number: NSD 913 of 2011

Judge: STONE J

Date of judgment: 21 June 2011

Catchwords: PRACTICE AND PROCEDURE – application for expedition of proceeding brought pursuant to s 793C and s 1101B Corporations Act 2001 (Cth) for enforcement of ASX Listing Rule – factors relevant to granting expedition – whether prima facie case made out –whether proceeding properly constituted – whether necessary parties joined – joinder of some parties would require service outside jurisdiction – applicant expressed no intention to join additional parties – non-joinder of necessary parties insuperable obstacle to expedition PRACTICE AND PROCEDURE – application under s 31A(2) Federal Court of Australia Act 1976 (Cth) for summary dismissal of proceeding – applicant bears onus of proof – consideration of principles governing Court's discretion – whether proceeding has reasonable prospects of success – no reasonable prospects of success where materially relevant parties not joined and applicant has no intention to do so

Legislation: Federal Court of Australia Act 1976 (Cth) s 31A(2)

Cases cited: Adnunat Pty Ltd v ITW Construction Systems Australia Pty Ltd [2009] FCA 499 Deputy Commissioner of Taxation v Hua Wang Bank Berhad (No 2) [2010] FCA 1296 John Alexander's Clubs Pty Limited v White City Tennis Club Limited (2010) 241 CLR 1 Smartec Capital Pty Limited v Centro Properties Limited [2011] NSWSC 495