MG Corrosion Consultants Pty Ltd v Gilmour [2014] FCA 990

FEDERAL COURT OF AUSTRALIA

MG Corrosion Consultants Pty Ltd v Gilmour [2014] FCA 990 Citation: MG Corrosion Consultants Pty Ltd v Gilmour [2014] FCA 990

Parties: MG CORROSION CONSULTANTS PTY LTD ACN 084 715 177 v MALCOLM STEWART GILMOUR and MAGIL NOMINEES PTY LTD ACN 009 059 607 (IN LIQ); MALCOLM STEWART GILMOUR and MAGIL NOMINEES PTY LTD ACN 009 059 607 (IN LIQ); MG CORROSION CONSULTANTS PTY LTD ACN 084 715 177 and ALBERTO CESARIO VINCIGUERRA

File number: WAD 256 of 2010

Judge: BARKER J

Date of judgment: 12 September 2014

Catchwords: CORPORATIONS – fiduciary and statutory directors' duties – alleged breaches of ss 181, 182, 183 Corporations Act 2001 (Cth) and fiduciary duties – whether certain expenses incurred by company were unnecessary to be incurred or excessive – whether first defendant breached directors' duties in relation to expenses – whether second defendant involved in contraventions – whether second defendant entitled to a set-off for amounts in cross-claim PRACTICE AND PROCEDURE – whether any claims or cross-claims statute-barred under Limitation Act 1935 (WA) or Limitation Act 2005 (WA)

Legislation: Corporations Act 2001 (Cth) s 79, s 180, s 180(1), s 180(2), s 180(3), s 181, s 181(1), s 181(2), s 182, s 182(1), s 182(2), s 183, s 183(1), s 183(2), s1305, s 1317E, s 1317H, s 1317H(2), s 1317K Judiciary Act 1903 (Cth) s 79 Limitation Act 2005 (WA) s 13 Limitation Act 1935 (WA) s 38, s 38(1)(c)(v)

Cases cited: Ardeshirian v Robe River Iron Associates (1993) 43 FCR 475 Australian Securities and Investments Commission v Adler [2002] NSWSC 171; (2002) 168 FLR 253 Australian Securities and Investments Commission v Rich [2009] NSWSC 1229; (2009) 236 FLR 1 Chew v R (1991) 4 WAR 21 Equiticorp Finance Ltd (in liq) v Bank of New Zealand (1993) 32 NSWLR 50 Marchesi v Barnes [1970] VR 434 Maronis Holdings Limited v Nippon Credit Australia Pty Ltd [2001] NSWSC 448; (2001) 38 ACSR 404 MG Corrosion Consultants Pty Ltd v Vinciguerra (No 2) [2011] FCAFC 48; (2011) 276 ALR 319 MG Corrosion Consultants Pty Ltd v Vinciguerra [2011] FCAFC 31; (2011) 82 ACSR 367 R v Byrnes [1995] HCA 1; (1995) 183 CLR 501 Re Ledir Enterprises Pty Ltd [2013] NSWSC 1332; (2013) 96 ACSR 1 Vinciguerra v MG Corrosion Consultants Pty Ltd [2010] FCA 763; (2010) 79 ACSR 293 Vinciguerra v MG Corrosion Consultants Pty Ltd [2007] FCA 503; (2007) 61 ACSR 583 Westpac Banking Corporation v Bell Group Limited (in liq) (No 3) [2012] WASCA 157; (2012) 44 WAR 1