Champions Quarry Pty Ltd v GSQ Holdings Pty Ltd, in the matter of Champions Quarry 2 Pty Ltd [2019] FCA 459

FEDERAL COURT OF AUSTRALIA

Champions Quarry Pty Ltd v GSQ Holdings Pty Ltd, in the matter of Champions Quarry 2 Pty Ltd [2019] FCA 459 File number(s): QUD 924 of 2018

Judge(s): GREENWOOD J

Date of judgment: 3 April 2019

Catchwords: CORPORATIONS – consideration of an interlocutory application for the appointment of provisional liquidators in the context of an application filed by the plaintiff for a winding-up order of Champions Quarry 2 Pty Ltd ACN 600 281 061 on the just and equitable ground and on the footing that the 51% majority shareholder has been conducting the affairs of the company in a manner that is oppressive or unfairly prejudicial to a member holding 49% of the issued shares in the company and on the footing that the company has been conducted in a manner contrary to the interests of the shareholders as a whole

Legislation: Corporations Act 2001 (Cth), ss 232, 233, 461, 462, 472

Cases cited: Australian Securities and Investments Commission v Activesuper Pty Ltd (No 2) (2013) 93 ACSR 189 Australian Securities and Investments Commission v Uglii Corporation Pty Ltd (2016) 116 ACSR 389 Australian Securities Commission v Solomon (1996) 19 ACSR 73 Constantinidis v JGL Trading Pty Ltd (1995) 17 ACSR 625 Lubavitch Mazal Pty Ltd v Yeshiva Prospects No 1 Pty Ltd (2003) 47 ACSR 197 Montgomery & Windsor (NSW) Pty Ltd v Ilopa Pty Ltd (1984) 2 ACLC 224 Re Back 2 Bay 6 Pty Ltd (1994) 12 ACSR 614 Re Club Mediterranean Pty Ltd (1975) 11 SASR 481 Re Global SDR Technologies Pty Ltd; Australian Securities and Investments Commission v Global SDR Technologies Pty Ltd (2004) 51 ACSR 42 Re New Cap Reinsurance Corporation Holdings Ltd (1999) 32 ACSR 234 Riviana (Aust) Pty Ltd v Laospac Trading Pty Ltd (1986) 10 ACLR 865