Jolan Pty Ltd v Essential Investments Pty Ltd (No 3) [2021] FCA 1627

Federal Court of Australia

Jolan Pty Ltd v Essential Investments Pty Ltd (No 3) [2021] FCA 1627 File number(s): QUD 101 of 2021

Judgment of: DOWNES J

Date of judgment: 21 December 2021

Catchwords: CORPORATIONS – oppression proceedings – appropriate remedy pursuant to s 233 Corporations Act 2001 (Cth) – existing and proposed shareholders are prepared and able to purchase plaintiff's shares – whether consideration of other remedies should be deferred to enable shares to be acquired COSTS – whether indemnity costs order should be made against defendants – whether unreasonable not to accept settlement offers made by plaintiff – whether allegations made by defendants which should never have been made – whether defendants' conduct of proceedings contrary to overarching purpose of civil practice and procedure provisions of Federal Court of Australia Act 1976 (Cth) and Federal Court Rules 2011 (Cth) – whether costs order should be made against second to fourth defendants when no order otherwise made against them

Legislation: Corporations Act 2001 (Cth) s 233 Federal Court of Australia Act 1976 (Cth) ss 37M(1), 37N(1) Federal Court Rules 2011 (Cth) r 25.01(1)

Cases cited: Alhalek v Quintiliani trading as Kells Lawyers (No 3) [2021] FCAFC 150 Anchorage Capital Partners Pty Limited v ACPA Pty Ltd (No 2) [2018] FCAFC 112 CGU Insurance Ltd v Corrections Corporation of Australia Staff Superannuation Ltd (2008) 15 ANZ Insurance Cases 61-785; [2008] FCAFC 173 Colgate-Palmolive Co v Cussons Pty Ltd [1993] FCA 801; (1993) 46 FCR 225 Dukemaster Pty Ltd v Bluehive Pty Ltd [2003] FCAFC 1 Hardingham v RP Data Pty Limited (No 2) [2021] FCAFC 175 Jolan Pty Ltd v Essential Investments Pty Ltd (No 2) [2021] FCA 1533