In the matter of TDE Pty Ltd [2020] NSWSC 1436

Supreme Court New South Wales

Medium Neutral Citation: In the matter of TDE Pty Ltd [2020] NSWSC 1436 Hearing dates: 10 September 2020 Date of orders: 10 September 2020 Decision date: 10 September 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Leave granted to bring proceedings on behalf of TDE Pty Ltd under s 237 of the Corporations Act 2001 (Cth) Catchwords: CORPORATIONS – statutory derivative action – application to bring proceedings on behalf of company – where applicant is one of company's two statutory directors – where applicant undertakes to indemnify company in respect of costs of conducting the proceedings – where defendant does not oppose grant of leave – whether the proposed proceedings are in the company's best interests – whether leave should be granted to the applicant to commence proceedings in company's name. Legislation Cited: - Corporations Act 2001 (Cth) ss 9, 237, 237(2), 237(2)(a), 237(2)(c), 237(2)(d) Cases Cited: - Huang v Wang [2016] NSWCA 164 - Power v Ekstein [2010] NSWSC 137; (2010) 77 ACSR 302 - Re Yinsanity Pty Limited [2019] NSWSC 1290 - Swansson v RA Pratt Properties Pty Ltd [2002] NSWSC 583; (2002) 42 ACSR 313 - The App Shop Pty Ltd v Jalal Brothers Pty Ltd [2019] NSWSC 490 Category: Principal judgment Parties: Tania Liu (First Plaintiff) Liu Private Investments Pty Ltd (Second Plaintiff) Alyce Tran (First Defendant) PGLZ Pty Ltd (Second Defendant) TDE. Pty Ltd (Third Defendant) Representation: Counsel: G Lucarelli (Plaintiffs) N Bender (First and Second Defendants)