Federal Court of Australia
Federal Court of Australia
Clee Capital Pty Ltd v IOUpay Limited [2023] FCA 312 File number(s): NSD 264 of 2023
Judgment of: JACKMAN J
Date of judgment: 3 April 2023
Catchwords: CORPORATIONS – interlocutory application seeking to restrain respondent from incurring liabilities or raising capital – allegations of oppressive conduct – where an extraordinary general meeting will be held concerning the removal of directors – where there has been a suspected fraud upon the company – where the injunctions sought could lead to the insolvency of the company – whether maladministration or failures of corporate governance are capable of amounting to oppression – where there is no serious question to be tried as to oppression – where the balance of convenience does not favour the grant of the injunctions sought – where the interlocutory relief sought does not correspond meaningfully with the final relief sought
Legislation: Corporations Act 2001 (Cth) ss 203D, 232, 233(1)(h), 233(1)(j), 249D
Cases cited: Parker v National Roads & Motorists Association (1993) 11 ACSR 370 Whitehouse v Carlton Hotel Pty Ltd (1997) 162 CLR 285
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 32
Date of hearing: 3 April 2023
Counsel for the Plaintiff: Mr P S Braham SC and Ms C O Gleeson
Solicitor for the Plaintiff: Marque Lawyers
Counsel for the Defendant: Mr J Knackstredt and Ms S Danne
Solicitor for the Defendant: Hamilton Locke
ORDERS NSD 264 of 2023
BETWEEN: CLEE CAPITAL PTY LTD Plaintiff
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