Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Bonham v Iluka Resources Limited [2015] FCA 713 Citation: Bonham v Iluka Resources Limited [2015] FCA 713
Parties: JAMES BONHAM v ILUKA RESOURCES LIMITED
File number(s): TAD 43 of 2014
Judge: KERR J
Date of judgment: 15 July 2015
Catchwords: PRACTICE AND PROCEDURE – Discovery - Preliminary discovery sought by shareholder in respect of contemplated action following a significant share price fall after publication of notice to market - Rule 7.23 of the Federal Court Rules 2011 (Cth) - whether reasonable belief that the prospective applicant may have the right to obtain relief for misleading or deceptive conduct - suspicion or conjecture not sufficient for belief - reasonable belief must be objectively established - whether proof of a prospective applicant's own belief is required - whether statements by solicitors for a prospective applicant implying, contrary to the fact, a decision to commence a class action had already been made basis for refusing application on discretionary grounds.
Legislation: Federal Court Rules 2011 (Cth), r 7.23 Australian Securities and Investments Commission Act 2001 (Cth) Competition and Consumer Act 2010 (Cth) Corporations Act 2001 (Cth)
Cases cited: Alphapharm Pty Ltd v Eli Lilly Australia Pty Ltd [1996] FCA 1500 Basic v Levinson 485 US 224 (1988) Caason Investments Pty Ltd v Cao [2014] FCA 1410 Carr v Baker (1936) 36 SR(NSW) 301 City of Botany Bay Council v Jazabas Pty Ltd [2001] NSWCA 94 Clarke v Sandhurst Trustees Ltd [2014] FCA 580 EBOS Group Pty Ltd v Team Medical Supplies Pty Ltd (No 3) (2012) 199 FCR 533; [2012] FCA 48 Echo Tasmania Pty Ltd v Imperial Chemical Industries PLC [2008] FCAFC 58 George v Rockett (1990) 170 CLR 104; [1990] HCA 26 Grant-Taylor v Babcock & Brown Ltd (In Liquidation) [2015] FCA 149 Higgins v Hancock as Liquidator of 246 Arabella Investments Pty Ltd (in liq) (2011) 199 FCR 393; [2011] FCA 1492 Hooper v Kirella Pty Ltd (1999) 96 FCR 1; [1999] FCA 1584 Jones v Great Western Railway Co (1930) 47 TLR 39 MacDonald v Department of Employment and Workplace Relations [2003] FCA 631 Nevistic v Minister for Immigration and Ethnic Affairs (1981) 34 ALR 639 North East Equity Pty Ltd v Proud Nominees Pty Ltd [2012] FCAFC 1 ObjectiVision v Visionsearch [2014] FCA 1087 Reeve v Aqualast Pty Ltd [2012] FCA 679 Sandhurst Trustees Ltd v Clarke [2015] FCAFC 21 Seltsam Pty Ltd v McGuiness (2000) 49 NSWLR 262; [2000] NSWCA 29 St George Bank Ltd v Rabo Australia Ltd [2004] FCA 1360 Sykes v Reserve Bank of Australia [1999] FCA 746
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