Santos QNT Pty Ltd v Tamboran Resources Limited [2017] FCA 670

FEDERAL COURT OF AUSTRALIA

Santos QNT Pty Ltd v Tamboran Resources Limited [2017] FCA 670 File number: SAD 130 of 2017

Judge: BESANKO J

Date of judgment: 14 June 2017

Catchwords: CORPORATIONS – consideration of an application for the inspection of company books under s 247A of the Corporations Act 2001 (Cth) – where it is not disputed that an order under s 247 of the Act should be made – where the "books" the subject of the order are not disputed – where application made in good faith and for a proper purpose – whether the persons or classes of persons who may inspect the documents is too wide – where defendant submits documents are commercially sensitive and confidential – where defendant has made statements of an intention to release particular commercial information to shareholders – whether order should be made limiting the use that a person who inspects books may make of information obtained during the inspection – where sufficient protection provided by the limitation on disclosure in s 247C of the Act – where cost and inconvenience to the plaintiff under a liberty to apply provision considered.

Legislation: Corporations Act 2001 (Cth) ss 247A, 247B, 247C Federal Court Rules 2011 (Cth) r 7.23

Cases cited: Engel v National Biodiesel Limited (2015) 245 FCR 436 London City Equities Limited v Penrice Soda Holdings Limited [2011] FCA 674; (2011) 84 ACSR 573 Style Limited; in the matter of Merim Pty Ltd v Style Limited [2009] FCA 314; (2009) 255 ALR 63

Date of hearing: 8 June 2017

Registry: South Australia

Division: General Division

National Practice Area: Commercial and Corporations