In the matter of Wonga Pastoral Development Co Pty Ltd [2023] NSWSC 133

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Wonga Pastoral Development Co Pty Ltd [2023] NSWSC 133 Hearing dates: 13 December 2022, 17 February 2023 Date of orders: 23 February 2023 Decision date: 23 February 2023 Jurisdiction: Equity - Corporations List Before: Black J Decision: Application for leave to bring derivative application dismissed with costs. Catchwords: CORPORATIONS — Statutory derivative action — Application to bring proceedings on behalf of company — Whether leave to bring derivative action should be granted Legislation Cited: Corporations Act 2001 (Cth), ss 236, 237 Limitation Act 1969 (NSW), ss 14, 63 Probate and Administration Act 1892 (NSW), s 92(2) Cases Cited: - Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia - Automatic Self-Cleansing Filter Syndicate Co Ltd v Cuninghame [1906] 2 Ch 34; (1906) 75 LJ Ch 437; 94 LT 651 - Barnes v Addy (1874) LR 9 Ch App 244 - BCI Finances Pty Ltd (in liq) v Binetter (No 4) [2016] FCA 1351 - Brownlee Enterprises Pty Ltd v Wilmen Pty Ltd (2022) 160 ACSR 21; [2022] NSWSC 207 - Charlton v Baber (2003) 47 ACSR 31; [2003] NSWSC 745 - Consul Developments Pty Ltd v DPC Estates Pty Ltd (1975) 132 CLR 373 - English v Stewart [2022] NSWSC 268 - Farah Constructions Pty Ltd v Say-Dee Pty Ltd (2007) 230 CLR 89; [2007] HCA 22 - Goozee v Graphic World Group Holdings Pty Ltd (2002) 42 ACSR 534; [2002] NSWSC 640 - Gordon in His Capacity as Liquidator of Lyon Form Pty Ltd (in liq) v Leon Plant Hire Pty Ltd (in liq) [2015] NSWSC 397 - Grimaldi v Chameleon Mining NL (No 2) (2012) 87 ACSR 260; [2012] FCAFC 6 - Hannon v Doyle (2011) 82 ACSR 259; [2011] NSWSC 10 - Harlowe's Nominees Pty Ltd v Woodside (Lakes Entrance) Oil Co NL (1968) 121 CLR 483 at 492; 42 ALJR 123 - Hart Security Australia Pty Ltd v Boucousis (2016) 339 ALR 659; [2016] NSWCA 307 - Hasler v Singtel Optus Pty Ltd (2014) 311 ALR 494; 101 ACSR 167; [2014] NSWCA 266 - Hopkins Professional Services Pty Ltd v Foyster Holdings Pty Ltd (2001) 39 ACSR 519; (2002) 20 ACLC 396; [2001] NSWSC 915 - Howard Smith Ltd v Ampol Petroleum Ltd [1974] AC 821; [1974] 1 NSWLR 68 at 79; [1974] 1 All ER 1126; (1974) 3 ALR 448 - Huang v Wang (2016) 114 ACSR 586; [2016] NSWCA 164 - John Shaw and Sons (Salford) Ltd v Shaw [1935] 2 KB 113; [1935] All ER Rep 456 - Lorebray Pty Ltd v Liddy [2022] NSWSC 1633 - Mathews Capital Partners Pty Ltd v Coal of Queensland Holdings Ltd [2012] NSWSC 462 - McLachlan v Stephen de Vere [2006] NSWSC 959 - MG Corrosion Consultants Pty Ltd v Vinciguerra (2011) 82 ACSR 367; [2011] FCAFC 31 - Mount Gilead Pty Ltd & Hobhouse v L Macarthur-Onslow & Ors (2021) 398 ALR 629; [2021] NSWSC 948 - National Roads & Motorists' Association Ltd (NRMA) v Bradley (2002) 42 ACSR 616; [2002] NSWSC 788 - National Roads & Motorists' Association Ltd (NRMA) v Parker (1986) 6 NSWLR 517; 11 ACLR 1; 4 ACLC 609 - OLI 1 Pty Limited (in liq) v OLG 2 Pty Limited (No 2) [2022] NSWSC 1199 - Power v Ekstein (2010) 77 ACSR 302; [2010] NSWSC 137 - Re Australian International Yacht Club Ltd [2020] NSWSC 1884 - Re Carbon Copies Composites Pty Ltd [2022] NSWSC 1638 - Re Fishinthenet Investments Pty Ltd [2014] NSWSC 260 - Re Gladstone Pacific Nickel Ltd (2011) 86 ACSR 432; [2011] NSWSC 1235 - Re Legal Practice Management Group Pty Ltd (2018) 125 ACSR 513; [2018] NSWSC 527 - Re Lotus Property Fund No 8 Pty Ltd [2020] NSWSC 1349 - Re Vicad Pty Ltd; Pottie v Dunkley [2011] NSWSC 166 - Re Winlyn Developments Pty Ltd (2011) 86 ACSR 197; [2011] NSWSC 1218 - Residues Treatment and Trading Co Ltd v Southern Resources Ltd (No 2) (1989) 15 ACLR 770; 7 ACLC 1130 - Swansson v RA Pratt Properties Pty Ltd (2002) 42 ACSR 313; [2002] NSWSC 583 - The App Shop Pty Ltd v Jalal Brothers Pty Ltd [2019] NSWSC 490 - Thomas v Arthur Hughes Pty Limited (2015) 107 ACSR 443; [2015] NSWSC 1027 - Vinciguerra v MG Corrosion Consultants Pty Ltd (2010) 79 ACSR 293; [2010] FCA 763 Category: Principal judgment Parties: P McNamee (Plaintiff) Wonga Pastoral Pty Ltd (First Defendant) M McNamee (Second Defendant) Representation: Counsel: V Whittaker SC/N Mirzai (Plaintiff, 13 December 2022); M Condon SC (17 February 2023) DR Pritchard SC/A Macauley (Second Defendant, part 13 December 2022)