In the matter of Lotus Property Fund No 8 Pty Ltd atf Lotus Property Fund No 8 [2020] NSWSC 1349

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Lotus Property Fund No 8 Pty Ltd atf Lotus Property Fund No 8 [2020] NSWSC 1349 Hearing dates: 28 September 2020; further submissions 1 October 2020 Date of orders: 2 October 2020 Decision date: 02 October 2020 Jurisdiction: Equity Before: Stevenson J Decision: Leave to be granted under s 237 of the Corporations Act 2001 (Cth) Catchwords: CORPORATIONS – derivative action – application for grant of leave by former director of company to bring proceedings in name of company under s 237 of the Corporations Act 2001 (Cth) Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: 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 Chahwan v Euphoric Pty Ltd [2008] NSWCA 52 Hannon v Doyle [2011] NSWSC 10 Huang v Wang [2016] NSWCA 164 In the matter of Gladstone Pacific Nickel Ltd [2011] NSWSC 1235 In the matter of Global Advanced Metals Pty Ltd [2019] NSWSC 1804 In the matter of Mycorp Group Pty Ltd (& Ors) [2013] NSWSC 1344 Maher v Honeysett & Maher Electrical Contractors Pty Ltd [2005] NSWSC 859 Nation Energy (Australia) Pty Ltd v Paltar Petroleum Ltd (Administrators appointed) [2019] FCA 1473 Oates Consolidated Capital Services Ltd [2009] NSWCA 183 Swansson v R A Pratt Properties Pty Ltd [2002] NSWSC 583 Category: Procedural and other rulings Parties: Justin Brown (Plaintiff/Applicant) Lotus Property Fund No 8 Pty Ltd (Defendant/Respondent) Representation: Counsel: S Balafoutis SC with E Doyle-Markwick (Plaintiff/Applicant) J Shepard (Defendant/Respondent)