Super John Pty Limited & 4 Ors v Futuris Rural Pty Limited [1999] NSWSC 627

Reported Decision : (1999) 17 ACLC 1242

New South Wales Supreme Court CITATION : Super John Pty Limited & 4 Ors v Futuris Rural Pty Limited [1999] NSWSC 627 revised - 28/07/99 CURRENT JURISDICTION : Equity FILE NUMBER(S) : 2746/99 HEARING DATE(S) : 16/06/99, 21/06/99, 22/06/99 JUDGMENT DATE : 22 June 1999

Super John Pty Limited ACN 000 375 093 (P1/Applicant1) Batoka Pty Limited ACN 002 904 930 (P2/Applicant2) PARTIES : Elizabeth Lancy & Julian Lancey as trustees for Elizabeth Superannuation Fund (P3/Applicant 3) Allistair Hazard (P4/Applicant 4) Ian Morton (P5/Applicant 5) Futuris Rural Pty Limited ACN 009 339 333 (D) JUDGMENT OF : Santow J

COUNSEL : S J Blanks (Sol) (Ps) M Bennett (D) SOLICITORS : Stephen Blanks & Associates (Ps) Watson Mangioni CATCHWORDS : CORPORATIONS — Compulsory acquisition — Application to Federal Court under s701(6) of Corporations Law over two years ago which did not anticipate successful challenge to Federal Court's jurisdiction generally in Corporations Law matters — Settled view of law at time of application in favour of Federal Court's jurisdiction — Subsequent decision to contrary over two years later — Fresh application to Supreme Court of New South Wales under s701(6) of Corporations Law out of time unless dispensation given under s1322(4) of Corporations Law or covered by s1322(2) — Availability of dispensation — Does substantial injustice preclude. ACTS CITED : Corporations Law Ch 6, s447A, s459G s701(6), s730, s743, s1322(4), s1322(6)(c) BP Australia Ltd v Amman Aviation Pty Ltd (1996) 62 FCR 451 Richard Campbell Brien & 1 Ors v Australasian Memory Pty Limited & Anor (1997) 25 ACSR 1 at 48 and (1999) 29 ACSR at 344 David Grant & Co Pty Limited v Westpac Banking Corporation (1994-95) 184 CLR 265 CASES CITED : DB Management Pty Ltd v Australian Securities and Investment Commission and Others [1999] FCA 293 Elderslie Finance Corporation Limited v ASC (1993) 11 ACLC 787 Gould v Brown (1998) 193 CLR 346 Kleinwort Benson Ltd & Ors v Lincoln City Council [1998] 3 WLR 1095 Re Wakim; ex parte McNally [1999] HCA 27 DECISION : To give dispensation under s1322(4) Corporations Law for late filing of application in NSW Supreme Court under s701(6)