Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Hui v Champion [2019] FCA 1111 File number: NSD 141 of 2019
Judge: JAGOT J
Date of judgment: 23 July 2019
Catchwords: CORPORATIONS – whether a transfer of shares was carried out for an improper purpose – no improper purpose found – whether transfer of shares contravened the companies' constitutions – if contraventions found, whether conduct can be validated and directors exonerated from beaches of duty – no validation and no exoneration available
Legislation: Corporations Act 2001 (Cth) ss 140(1), 180(1), 180(1)(a), 236, 237, 1071B(2), 1071B(3), 1071B(4), 1317S(2), 1318, 1322(2), 1322(4), 1322(6), 1322(6)(a)(ii), 1322(6)(a)(iii), 1324, 1324(1) Corporations Regulations 2001 (Cth) Sch 2A
Cases cited: Hall v Poolman [2007] NSWSC 1330 In the matter of Central Management (NSW) Pty Ltd (in liquidation) [2017] NSWSC 1258 Permanent Building Society (in liq) v Wheeler (1994) 14 ACSR 109 Re Continental Pacific [2002] NSWSC 789 Sheahan v Londish [2010] NSWCA 270; (2010) 80 ACSR 337
Dates of hearing: 11, 12 and 18 June 2019
Registry: New South Wales
Division: General Division
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