Tydeman v Asgard Group Pty Ltd, in the matter of Asgard Group Pty Ltd [2023] FCA 486

Federal Court of Australia

Tydeman v Asgard Group Pty Ltd, in the matter of Asgard Group Pty Ltd [2023] FCA 486 File number: NSD 909 of 2022

Judgment of: STEWART J

Date of judgment: 18 May 2023

Catchwords: CORPORATIONS – application for leave to bring a derivative action on behalf of a company – where plaintiffs are the only directors and shareholders of the company – whether criteria for leave under s 237 of the Corporations Act 2001 (Cth) are satisfied – criterion of good faith, and ulterior purpose HIGH COURT AND FEDERAL COURT – legal representation – whether a corporation has a right, enforceable against an unwilling solicitor, to be legally represented – scope of judicial power to develop the common law PRACTICE AND PROCEDURE – notice of discontinuance (NOD) – where judgment already listed for delivery and reasons prepared – whether plaintiffs require leave to file NOD where defendant consents to its filing – whether leave should be granted if it is required

Legislation: Acts Interpretation Act 1901 (Cth) s 2C(1) Corporations Act 2001 (Cth) ss 236, 237, 254Y, 257A, 257B, 257D-257H, 601AD(1A), 1324(1B) Evidence Act 1995 (Cth) s 91(1) Federal Court of Australia Act 1976 (Cth) ss 17, 37AF Judiciary Act 1903 (Cth) ss 78, 80 Superannuation Industry (Supervision) Act 1993 (Cth) Federal Court Rules 2011 (Cth) rr 1.21, 1.34, 2.26, 2.27(f), 4.01(2), 12.01(3), 26.12

Cases cited: APLA Ltd v Legal Services Commissioner (NSW) [2005] HCA 44; 224 CLR 322 Australian Broadcasting Corporation v O'Neill [2006] HCA 46; 227 CLR 57 Bui v Director of Public Prosecutions (Cth) [2012] HCA 1; 244 CLR 638 Cemcon Constructions Pty Ltd v Hall Concrete Construction (Vic) Pty Ltd [2009] FCA 696 Damjanovic v Maley [2002] NSWCA 230; 195 ALR 265 Dietrich v The Queen [1992] HCA 57; 277 CLR 292 Giannarelli v Wraith [1988] HCA 52; 165 CLR 543 Hamilton v Whitehead [1988] HCA 65; 166 CLR 121 Huang v Wang [2016] NSWCA 164; 114 ACSR 586 In the matter of Tanamerah Estates Pty Ltd [2016] NSWSC 1644; 317 FLR 55 Onesteel Manufacturing Pty Ltd v The Comptroller-General of Customs [2017] FCA 959 Port of Melbourne Authority v Anshun Pty Ltd [1981] HCA 45; 147 CLR 589 SCI Operations Pty Ltd v Trade Practices Commission [1984] FCA 52; 2 FCR 113 South Johnstone Mill Ltd v Dennis [2007] FCA 1448; 163 FCR 343 Swansson v R A Pratt Properties Pty Ltd [2002] NSWSC 583; 42 ACSR 313 Tanamerah Estates Pty Ltd as trustee for Alexander Superannuation Fund v Tibra Capital Pty Ltd [2013] NSWCA 266 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd (No 2) [2013] NSWSC 616 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2013] NSWSC 36; 272 FLR 365 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2015] NSWCA 383 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2015] NSWSC 1519; 110 ACSR 29 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2015] NSWSC 1708 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2016] NSWCA 23 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2016] NSWCA 42 Tibra Capital Pty Limited (S104/2016) [2016] HCASL 148 Tibra Capital Pty Limited (S84/2016) [2016] HCASL 147 Trade Practices Commission v Manfal Pty Ltd (No 3) (in liq) [1991] FCA 831; 33 FCR 382 Tydeman v Tibra Capital Pty Limited (No 2) [2018] NSWSC 884 UBS AG v Tyne [2018] HCA 45; 265 CLR 77 Vinciguerra v MG Corrosion Consultants Pty Ltd [2010] FCA 763; 79 ACSR 293 Williams v Spautz [1992] HCA 34; 174 CLR 509 Worldwide Enterprises Pty Ltd v Silberman [2010] VSCA 17; 237 FLR 292 Arthur Hall & Co v Simons [2002] 1 AC 615 Tesco Supermarkets Ltd v Nattrass [1972] AC 153