Drew v Lynch, in the matter of Mirage 3.4D Pty Limited [2019] FCA 632

FEDERAL COURT OF AUSTRALIA

Drew v Lynch, in the matter of Mirage 3.4D Pty Limited [2019] FCA 632 File number: NSD 2230 of 2018

Judge: GLEESON J

Date of judgment: 9 May 2019

Catchwords: CORPORATIONS – derivative action – application for leave pursuant to s 237 of the Corporations Act 2001 (Cth) to bring proceedings on behalf of a company – where plaintiffs also seek relief for oppressive conduct – where assets of the company allegedly removed – whether grant of leave is in the best interests of the company – where defendants allege the plaintiffs have a collateral purpose for seeking leave – where defendants contend that development of relevant technology will cease if proposed relief is granted – leave granted

Legislation: Corporations Act 2001 (Cth) ss 236, 237

Cases cited: Carpenter v Pioneer Park Pty Ltd (in liq) [2004] NSWSC 973; (2004) 51 ACSR 245 Chahwan v Euphoric Pty Ltd t/as Clay & Michel [2008] NSWCA 52; (2008) 65 ACSR 661 Charlton v Baber [2003] NSWSC 745; (2003) 47 ACSR 31 Fiduciary Ltd v Morningstar Research Pty Ltd [2005] NSWSC 442; (2005) 53 ACSR 732 Huang v Wang [2015] NSWSC 510 Huang v Wang [2016] NSWCA 164; (2016) 114 ACSR 586 Macralink Pty Ltd & Saristavros v Saris [2011] VSC 665 Maher v Honeysett & Maher Electrical Contractors Pty Ltd [2005] NSWSC 859 McEvoy v Caplan [2010] NSWCA 115; (2010) 78 ACSR 167 Re Gladstone Pacific Nickel Ltd [2011] NSWSC 1235; (2011) 86 ACSR 432 Swansson v RA Pratt Properties Pty Ltd [2002] NSWSC 583; (2002) 42 ACSR 313