Hislop v Paltar Petroleum Ltd (No 3) [2017] FCA 1253

FEDERAL COURT OF AUSTRALIA

Hislop v Paltar Petroleum Ltd (No 3) [2017] FCA 1253 File number: NSD 1383 of 2017

Judge: GLEESON J

Date of judgment: 26 October 2017

Catchwords: CORPORATIONS – application for leave under s 237 of the Corporations Act 2001 (Cth) to bring proceedings on behalf of and in the name of a company – allegations of equitable fraud, breaches of fiduciary duty, misleading and deceptive conduct and unconscionable conduct against directors and another – whether proposed proceedings in the best interests of the company – whether serious question to be tried – whether application brought in good faith – whether appropriate to grant leave in the absence of 14 days' notice – leave granted

Legislation: Corporations Act 2001 (Cth) Evidence Act 1995 (Cth) Petroleum Act 1984 (NT)

Cases cited: Carpenter v Pioneer Park Pty Ltd (in liq) [2004] NSWSC 973; (2009) 51 ACSR 245 Chahwan v Euphoric Pty Ltd [2006] NSWSC 1002 Charlton v Baber [2003] NSWSC 745; (2003) 47 ACSR 31 Huang v Wang [2016] NSWCA 164; (2016) 114 ACSR 586 Cooper v Myrtace Consulting Pty Ltd [2014] FCA 480 Damberg v Damberg [2001] NSWCA 87; (2001) 52 NSWLR 492 Fiduciary Ltd v Morningstar Research Pty Ltd [2005] NSWSC 442; (2005) 53 ACSR 732 Keenan v Bundaberg Port Authority [2016] FCA 134 Maher v Honesett & Maher Electrical Contractors [2005] NSWSC 859 MG Corrosion Consultants Pty Ltd v Vinciguerra [2011] FCAFC 31; (2011) 82 ACSR 367 Neilson v Overseas Projects Corporation of Victoria Ltd [2005] HCA 54; (2005) 223 CLR 331 Rafferty v Time 2000 West Pty Ltd (No 6) [2011] FCA 402 Re Gladstone Pacific Nickel Ltd [2011] NSWSC 1235; (2011) 86 ACSR 432 Swansson v Pratt [2002] NSWSC 583; (2002) 42 ACSR 313 Syndicate Mortgage Solutions Pty Ltd v El-Sayed [2010] NSWSC 348 Vigliaroni v Concrete Precast Systems Pty Ltd [2009] VSC 253 Heydon JD, Leeming HJ and Turner PG, Meagher, Gummow & Lehane's Equity – Doctrines & Remedies (5th ed, LexisNexis Butterworths, 2015)