In the matter of Bogasi Pty Limited [2020] NSWSC 1118

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Bogasi Pty Limited [2020] NSWSC 1118 Hearing dates: 18 August 2020 Date of orders: 19 August 2020 Decision date: 19 August 2020 Jurisdiction: Equity - Corporations List Before: Rees J Decision: Dismiss application to extend interlocutory injunction restraining the convening of a directors' meeting until after a shareholders' meeting. Catchwords: CIVIL PROCEDURE – interlocutory injunction –injunction previously granted on an ex parte basis – extension refused at inter partes hearing – no prima facie case – relief sought "under the general law" – no cause of action identified – requirements of Practice Note SC Eq 4. TRUSTS – corporate trustee of four family trusts – $30 million assets – trust distributions historically made to two families equally – representation by both families on board of trustee company – change in shareholdings of trustee company – shareholder meeting called – resolutions proposed which, if passed, will result in no representation of one family on the board – directors meeting called proposing to change trustee to appoint members of potentially disenfranchised family – injunction sought to restrain directors meeting until after shareholders meeting. DIRECTORS – "caretaker directors" – no allegation of breach of duty – no evidence as to voting intentions of shareholders – no prima facie case. Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Corporations Act 2001 (Cth), ss 135, 180, 181, 198A Cross-Border Insolvency Act 2008 (Cth) Supreme Court (Corporations) Rules 1999, r 2.2(3), Sch 1 Practice Note SC Eq 4 Cases Cited: Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia (2016) 113 ACSR 600; [2016] FCAFC 80 Australian Broadcasting Corporation v Lenah Game Meats Pty Ltd [2001] HCA 63; (2001) 208 CLR 199 Australian Broadcasting Corporation v O'Neill (2006) 227 CLR 57; [2006] HCA 46 Beecham Group Ltd v Bristol Laboratories Pty Ltd (1968) 118 CLR 618; [1968] HCA 1 Brags Electrics Pty Ltd t/as Inscope Building Technologies v Gregory [2010] NSWSC 1205 Cao v Apollo Phoenix Resources Pty Ltd (2018) 130 ACSR 602; [2018] FCA 1445 Chimaera Capital Ltd v Pharmaust Ltd [2007] FCA 1539; (2007) 64 ACSR 332 Dhami v Martin (2010) 79 ACSR 121; [2010] NSWSC 770 Estate of the late James Sundell [2019] NSWSC 1108 Fox v Gadsden (2003) 46 ACSR 713; [2003] NSWSC 748 In the matter of A Twins Spare Parts Pty Ltd [2019] NSWSC 1347 Mineralogy Pty Ltd v Sino Iron Pty Ltd [2016] WASCA 105 Paringa Mining and Exploration Co Plc v North Flinders Mines Ltd (1988) 14 ACLR 587; 7 ACLC 165 Re Homer District Consolidated Gold Mines; ex parte Smith (1888) 39 Ch D 546 Re Keneally as administrator of Australian Blue Mountain International Cultural & Tourist Group Pty Ltd (2015) 107 ACSR 172; [2015] NSWSC 937 Warner-Lambert Co LCC v Apotex Pty Ltd (2014) 311 ALR 632; [2014] FCAFC 59 Winthrop Investments Limited v Winns Limited (1975) 1 ACLR 222; [1975] 2 NSWLR 666 Texts Cited: RP Austin and IM Ramsay, Ford, Austin & Ramsay's Principles of Corporations Law (Online Edition, July 2020) Category: Principal judgment Parties: Christopher Peter Walker (Plaintiff) Bogasi Pty Ltd (First Defendant) David Wooldridge (Second Defendant) Dean Stell (Third Defendant) Representation: Counsel: C Harris SC (Plaintiff) M Condon SC (First Defendant) AP Coleman SC / Mr RJ May (Second Defendant) A Ronayne (Solicitor, Third Defendant)