Ratul v Islam; In the matter of Australian Real Estate Relation Pty Ltd [2023] NSWSC 78

Supreme Court New South Wales

Medium Neutral Citation: Ratul v Islam; In the matter of Australian Real Estate Relation Pty Ltd [2023] NSWSC 78 Hearing dates: 8 and 10 February 2023 Date of orders: 10 February 2023 Decision date: 10 February 2023 Jurisdiction: Equity - Corporations List Before: Black J Decision: Winding up order made; Mr Islam's claim is dismissed Catchwords: CORPORATIONS — Members' rights and remedies — Oppression — Whether conduct is oppressive to, unfairly prejudicial to, or unfairly discriminatory — Whether relief sought should be granted. CORPORATIONS — Members' rights and remedies — Whether winding up on just and equitable grounds should be ordered — Where court ordered winding up is in public interest — Whether court should order one shareholder to buyout the other. Legislation Cited: • Australian Consumer Law (Cth), ss 18, 224 • Civil Procedure Act 2005 (NSW), s 98 • Corporations Act 2001 (Cth), ss 181, 232, 233, 461(1)(e), 461(1)(k), 467 • Evidence Act 1995 (NSW), s 136 • Property and Stock Agents Act 2002 (NSW), s 32 • Uniform Civil Procedure Rules 2005 (NSW), r 42 Cases Cited: • Accurate Financial Consultants Pty Ltd v Koko Black Pty Ltd (2008) 66 ACSR 325; [2008] VSCA 86 • Asia Pacific Joint Mining Pty Ltd v Allways Resources Holdings Pty Ltd (2018) 125 ACSR 227; [2018] QCA 048 • Australian Securities and Investments Commission v ABC Funds Managers Ltd (2001) 39 ACSR 443; [2001] VSC 383 • Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 2) [2013] FCA 23 • Australian Securities and Investments Commission v Kingsley Brown Properties Pty Ltd [2005] VSC 506 • Australian Securities and Investments Commission v Stone Assets Management Pty Ltd (2012) 90 ACSR 523; [2012] FCA 630 • Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (2001) 37 ACSR 672; [2001] NSWCA 97 • Morgan v 45 Flers Avenue Pty Ltd (1986) 10 ACLR 692 • Munstermann v Rayward [2017] NSWSC 133 • Nassar v Innovative Precasters Group Pty Ltd (2009) 71 ACSR 343; [2009] NSWSC 342 • Oshlack v Richmond River Council (1998) 193 CLR 72; [1998] HCA 11 • Re Bicher & Son Pty Ltd [2020] NSWSC 711 • Re Pure Nature Sydney Pty Ltd [2018] NSWSC 914 • Sanford v Sanford Courier Service Pty Ltd (1986) 10 ACLR 549; 5 ACLC 394 • Tomanovic v Argyle HQ Pty Ltd [2010] NSWSC 152 • Tomanovic v Global Mortgage Equity Corporation Pty Ltd (2011) 84 ACSR 121; [2011] NSWCA 104 • Wayde v New South Wales Rugby League Ltd (1985) 180 CLR 459; [1985] HCA 68 Category: Principal judgment Parties: 2022/277860 Abu Walid Ratul (Plaintiff) Md Rajibul Islam (First defendant) Australian Real Estate Relation Pty Ltd (Second defendant)