MFX Research Pty Limited v Southern Equity Holdings Limited & Anor [1999] NSWSC 987

New South Wales Supreme Court CITATION : MFX Research Pty Limited v Southern Equity Holdings Limited & Anor [1999] NSWSC 987 CURRENT JURISDICTION : Equity Division FILE NUMBER(S) : 2919/99 HEARING DATE(S) : 22 September 1999 JUDGMENT DATE : 28 September 1999

MFX Research Pty Limited (P) Southern Equity Holdings (D) Southern Equity Holdings (Cr-cl 1) PARTIES : MFX Research Pty Limited (Cr-D 1) Ian Douglas Ferrier (Cr-D 2) Michael William Carr (Cr-D 3) Scott Maurice Freidman (Cr-D 4) JUDGMENT OF : Acting Master Berecry

COUNSEL : Mr. S. T. White (P) Mr. J. C. Kelly S.C. (D) SOLICITORS : Freidman Reeves (P) Piper Alderman (D) CATCHWORDS : Summons; Dismissal; Tests to be applied; Strike out; Fiduciary relationship - directors; Material facts. ACTS CITED : Trade Practices Act 1974 Uniting Church in Australia Property Trust (New South Wales) v Momsen [1978] 1 NSWLR 575 Peter Kemp Development v Australia and New Zealand Banking Group Limited (Unreported, 16 May 1980, Hunt J) General Steel Industries Inc v Commissioner for Railways of New South Wales (1964-1965) 112 CLR 125 Wentworth v Rogers (No. 5) [1986] 6 NSWLR 534 CASES CITED : Hospital Products Limited v United States Surgical Corporation (1985) 156 CLR 441 Breen v Williams (1996) 186 CLR 71 Xiang Du Pty Limited & Ors v Adelaide Investment Corp (Australia) Pty Limited (Federal Court, Adelaide, 31 May 1999) Commercial Bank of Australia v Amadio (1983) 151 CLR 447 Multigroup Distribution Services Pty Limited & Ors v TNT Australia Pty Limited [1996] ATPR 41-522 DECISION : See paragraph 34