In the matter of 1A Eden Pty Limited [2021] NSWSC 82

Supreme Court New South Wales

Medium Neutral Citation: In the matter of 1A Eden Pty Limited [2021] NSWSC 82 Hearing dates: 20, 21 August 2020 Date of orders: 12 February 2021 Decision date: 12 February 2021 Jurisdiction: Equity - Corporations List Before: Rees J Decision: Proceedings dismissed with costs. Catchwords: CORPORATIONS – winding up on "just and equitable" grounds – property development company – $8 million profit – applicant receives $2 million profit share – majority shareholder yet to receive his profit – building defects – applicant and associated shareholder were builders – 'deadlock' has air of artificiality – application infused with self interest – other remedies available – applicant acting unreasonably. Legislation Cited: Corporations Act 2001 (Cth) ss 461(1)(e), 461(1)(k) Home Building Act 1989 (NSW) Cases Cited: Accurate Financial Consultants Pty Limited v Koko Black Pty Limited [2008] VSCA 86; (2008) 66 ACSR 325 Exton v Extons Pty Limited (2017) 53 VR 520; [2017] VSC 14 Fexuto Pty Limited v Bosnjak Holdings Pty Limited [1998] NSWSC 413; (1998) 28 ACSR 688 Fexuto Pty Limited v Bosnjak Holdings Pty Limited [2001] NSWCA 97; (2001) 37 ACSR 672 Guerinoni v Argyle Concrete & Quarry Supplies Pty Limited (Supreme Court (WA), 22 April 1999, unrep) BC9902042 Guerinoni v Argyle Concrete & Quarry Supplies Pty Limited [2000] WASCA 170; (1999) 34 ACSR 469 In the matter of Amazon Pest Control Pty Limited [2012] NSWSC 1568 In the matter of Bicher & Son Pty Limited [2020] NSWSC 711; (2020) 147 ACSR 108 In the matter of Catombal Investments Pty Limited [2012] NSWSC 775 In the matter of Docklands Chiropractic Clinic Pty Limited [2020] VSC 364 In the matter of Organic Brands Pty Limited [2011] VSC 247 In the matter of Pure Nature Sydney Pty Limited [2018] NSWSC 914 In the matter of Straw Products Pty Limited [1942] VLR 222 Kingjade Holdings Pty Limited v Pineridge Nominees Pty Limited (1997) 15 ACLC 910 Melos v Melos [2003] NSWSC 118; (2003) 44 ACSR 511 Mudgee Dolomite & Lime Pty Limited v Murdoch [2020] NSWSC 1510 Nassar v Innovative Precasters Group Pty Limited [2009] NSWSC 342; (2009) 71 ACSR 343 Ruut v Head (1996) 20 ACSR 160 Shenouda v Work Safe Medics Pty Limited [2011] NSWSC 45 Tomanovic v Argyle HQ Pty Limited [2010] NSWSC 152 Tomanovic v Global Mortgage Equity Corp Pty Limited [2011] NSWCA 104; (2011) 84 ACSR 121 Wondoflex Textiles Pty Limited [1951] VLR 458 Category: Principal judgment Parties: Christopher Zaarour (Plaintiff) Robert Moore (First Defendant) 1A Eden Pty Limited (Second Defendant) Representation: Counsel: Mr A Davis (Plaintiff) Mr D Weinberger (First Defendant)