Bentley Capital Limited v Keybridge Capital Limited [2019] FCA 1675

FEDERAL COURT OF AUSTRALIA

Bentley Capital Limited v Keybridge Capital Limited [2019] FCA 1675 File number: WAD 475 of 2019

Judge: BANKS-SMITH J

Date of judgment: 11 October 2019

Catchwords: CORPORATIONS - deadlock - urgent hearing - meetings of directors - public company - practice of directors as to conduct of meetings - where plan to remove chairperson who holds casting vote - where resolutions proposed at first meeting without notice - where purpose of first meeting otherwise disclosed - whether notice of proposed resolutions was required - whether resolutions of first meeting valid - where second meeting convened for stated separate purpose - where resolutions proposed at second meeting to reverse resolutions of first meeting and to remove alternate director - no prior notice of proposed resolutions - whether resolutions of second meeting valid - declarations made CORPORATIONS - alternate director - where removal of alternate director mid-meeting without notice - whether resolution valid - declarations made

Legislation: Corporations Act 2001 (Cth) ss 201K, 203E, 1322

Cases cited: Australian Hydrocarbons NL v Green (1985) 10 ACLR 72 Australian Securities and Investments Commission v Rich [2003] NSWSC 85; (2003) 174 FLR 128 Aveo Group Limited v State Street Australia Ltd in its capacity as custodian for the Retail Employees Superannuation Pty Limited as trustee of the Retail Employees Superannuation Trust [2015] FCA 1019 Barron v Potter [1914] 1 Ch 895 Bell v Burton (1993) 12 ACSR 325 Colorado Constructions Pty Ltd v Platus [1966] 2 NSWR 598 Deputy Commissioner of Taxation (NSW) v Mutton (1988) 12 NSWLR 104 Dhami v Martin [2010] NSWSC 770; (2010) 241 FLR 165 Efstathis v Greek Orthodox Community of St George [1989] 1 Qd R 146 Geelong School Supplies Pty Ltd v Dean [2006] FCA 1404 Gibb v Federal Commissioner of Taxation (1966) 118 CLR 628 Goodwin v Phillips (1908) 7 CLR 1 In the matter of Warwick Keneally as administrator of Australian Blue Mountain International Cultural & Tourist Group Pty Ltd (admin apptd) [2015] NSWSC 937 Kelly v Wolstenholme (1991) 4 ACSR 709 La Compagnie De Mayville v Whitley [1896] 1 Ch 788 Markwell Bros Pty Ltd v CPN Diesels (Qld) Pty Ltd [1983] 2 Qd R 508 McLure v Mitchell (1974) 24 FLR 115 Mercanti v Mercanti [2016] WASCA 206; (2016) 50 WAR 495 Molopo Energy Limited 03R, 04R & 05R [2017] ATP 12 National Dwelling Society v Sykes [1894] 3 Ch 159 NRMA Ltd v Gould (1995) 13 ACLC 1518 Official Trustee in Bankruptcy v Buffier [2005] NSWSC 839; (2005) 54 ACSR 767 Poliwka v Heven Holdings (1992) 7 ACSR 85 Re Chevron Furnishers Pty Ltd (In liq) [1994] 2 Qd R 475 Re East Norfolk Tramways Co [1877] 5 Ch D 963 Re Homer District Consolidated Gold Mines; Ex parte Smith (1888) 39 Ch D 546 Re Ryde Ex-Services Memorial and Community Club Ltd (Administrators Appointed) [2015] NSWSC 226 Swiss Screens (Australia) Pty Ltd v Burgess (1987) 11 ACLR 756 Toole v Flexihire Pty Ltd (1991) 6 ACSR 455 Wilson v Manna Hill Mining Company Pty Ltd [2004] FCA 912 Wishart v Bodkin (1960) 3 FLR 464 Woonda Nominees v Chng [2000] WASC 173