In the matter of Meglo-Yowrie Flat Units Pty Ltd [2023] NSWSC 1634

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Meglo-Yowrie Flat Units Pty Ltd [2023] NSWSC 1634 Hearing dates: 3–6 and 11 October 2023 Date of orders: 21 December 2023 Decision date: 21 December 2023 Jurisdiction: Equity - Corporations List Before: Williams J Decision: See below at [281] Catchwords: CORPORATIONS — Shares — Directors' power under Articles of Association to decline to register a transfer of shares — Construction of provisions of the Articles conferring that power CORPORATIONS — Members' rights and remedies — Oppression — Whether decision to decline to register transfer of shares to plaintiff made without just cause within the meaning of s 1071F of the Corporations Act 2001 (Cth), in breach of statutory and fiduciary duties owed by directors to company, or constitutes oppression — Appropriate remedy for oppression in all the circumstances — Whether grounds for just and equitable winding up Legislation Cited: Corporations Act 2001 (Cth), ss 140, 232, 233, 258B, 461(1)(k), 467(4), 467(4)(a), 467(4)(b), 1070A, 1071B(2), 1071F, 1071F(2), 1071F(3), 1311(1), 1324 Corporations Regulations 2001 (Cth), reg 7.11.22 Cases Cited: Asia Pacific Joint Mining Pty Ltd v Allways Resources Holdings Pty Ltd [2018] 3 Qd R 520; (2018) 125 ACSR 227; (2018) 36 ACLC 18-010; [2018] QCA 48 Beck v Tuckey (2007) 213 FLR 152; [2007] NSWSC 1065 Crumpton v Morrine Hall Pty Ltd [1965] NSWR 240; (1965) 82 WN (Pt 1) (NSW) 456 Currwayina Pty Limited v Adam [2010] NSWSC 666 Electricity Generation Corporation v Woodside Energy Ltd (2014) 251 CLR 640; (2014) 88 ALJR 447; (2014) 306 ALR 25; (2014) 7 ARLR 361; [2014] HCA 7 Host-Plus Pty Ltd v Australian Hotels Association [2003] VSC 145 Ian Allan Byrne v A J Byrne Pty Limited [2012] NSWSC 667 In the matter of Amazon Pest Control Pty Limited [2012] NSWSC 1568 In the matter of Austral Alloys Pty Ltd [2017] NSWSC 1833 In the matter of CNPR Limited [2018] NSWSC 989 In the matter of Meglo-Yowrie Flat Units Pty Ltd [2023] NSWSC 1160 In the matter of Pure Nature Sydney Pty Ltd [2018] NSWSC 914 In the matter of Catombal Investments Pty Ltd (2012) 30 ACLC 12-031; [2012] NSWSC 775 Magill v Santina [1983] 1 NSWLR 517; (1983) 8 ACLR 289; (1983) 1 ACLC Munstermann v Rayward; Rayward v Munstermann [2017] NSWSC 133 O'Ryan v Golding [2019] NSWSC 1229 Re Alon Pty Ltd [2022] NSWSC 64 The J & P Marlow (No 2) Pty Ltd v Hayes and McCabe in their capacity as joint and several liquidators of Peak Invest Pty Ltd (in liq), Five Islands Pty Ltd (in liq), Surry Hills Pub Invest Pty Ltd (in liq) and Four by Four Investments Pty Ltd (in liq) [2023] NSWCA 117 Tzavaras v Tzavaras & Sons Pty Ltd [2023] NSWCA 168 Wambo Coal Pty Ltd v Sumeski Materials Co Ltd (2014) 88 NSWLR 689; (2014) 290 FLR 18; (2014) 101 ACSR 643; (2014) 32 ACLC 14-083;[2014] NSWCA 326 Wilson v Meudon Pty Ltd [2006] ANZ ConvR 91; [2005] NSWCA 448 Texts Cited: N/A Category: Principal judgment Parties: Tracy Blumentals (Plaintiff/Cross-Defendant) Meglo-Yowrie Flat Units Pty Ltd (First Defendant/Cross-Claimant) Frances Pope (Second Defendant) Caroline Newstead (Third Defendant) Greg Hendy (Fourth Defendant) Karenza Jewell (Fifth Defendant) Representation: Counsel: Mr JP Knackstredt with Ms A Elizabeth (Plaintiff/Cross-Defendant) Mr A Di Francesco (Third Defendant) Mr L Gor (Fourth Defendant)