In the matter of JR Enterprises Pty Ltd atf the JR Enterprises Unit Trust [2024] NSWSC 1671

Supreme Court New South Wales

Medium Neutral Citation: In the matter of JR Enterprises Pty Ltd atf the JR Enterprises Unit Trust [2024] NSWSC 1671 Hearing dates: 20 December 2024 Date of orders: 20 December 2024 Decision date: 20 December 2024 Jurisdiction: Equity - Corporations List Before: Nixon J Decision: Leave granted to bring derivative action. Catchwords: CORPORATIONS – application for leave to bring a derivative action – where orders made requiring First and Third Defendants to pay $1.5m to the company – where Plaintiffs sought leave to bring action in name of company to enforce judgment debt – where First and Third Defendants claimed judgment debt had been paid in full by set-off – whether serious question to be tried – whether Plaintiffs acting in good faith – leave granted Legislation Cited: Corporations Act 2001 (Cth), s 237 Cases Cited: Bzezinski v Shaw [2022] VSCA 173 Halesowen Presswork & Assemblies Ltd v Westminster Bank Ltd [1970] 3 All ER 473 Hislop v Paltar Petroleum Ltd (No 3) [2017] FCA 1253 Huang v Wang [2016] NSWCA 164 In the matter of Carbon Copies Composites Pty Ltd [2022] NSWSC 1762 In the matter of Gladstone Pacific Nickel Limited [2011] NSWSC 1235 Roadshow Entertainment Pty Ltd v ACN 053 006 269 Pty Ltd (1997) 42 NSWLR 462 Swansson v RA Pratt Properties Pty Ltd [2002] NSWSC 583 Category: Procedural rulings Parties: Joy Rosalind Wylie (First Plaintiff) Wylie's Securities Pty Ltd (Second Plaintiff) Jeffrey Ronald Williams (First Defendant) JR Enterprises Pty Ltd atf the JR Enterprises Unit Trust (Second Defendant) Jada Investments Pty Ltd (Third Defendant) Representation: Counsel: SJ Philips (Plaintiffs) DE Grieve KC (First and Third Defendants)