Katalin Ottilia Abeles v PA (Holdings) Pty ltd [2000] NSWSC 1008

Reported Decision : [2000] 18 ACLC 867

New South Wales Supreme Court

CITATION : Katalin Ottilia Abeles v PA (Holdings) Pty ltd [2000] NSWSC 1008 CURRENT JURISDICTION: Equity Division FILE NUMBER(S) : SC 1884/2000 HEARING DATE(S) : 3, 4, and 5 October 2000 JUDGMENT DATE : 2 November 2000

PARTIES : Katalin Ottilia Abeles (Plaintiff/Cross Defendant) PA (Holdings) Pty Ltd (Defendant/Cross Claimant) JUDGMENT OF : Bergin J

COUNSEL : RW White SC/M Meek (Plaintiff/Cross Defendant) DJ Hammerschlag (Defendant/Cross Claimant) SOLICITORS : Adrian Twigg & Co (Plaintiff/Cross Defendant) Freehill Hollingdale & Page (Defendant/Cross Claimant) CATCHWORDS : EQUITY - Application for specific performance of Share Sale Agreement between plaintiff and defendant company pursuant to which deposit has been paid and failure to complete. EQUITY - Fiduciary Obligations - Application to set aside Share Sale Agreement - Whether director caused the defendant company to enter into the Agreement in breach of fiduciary duty - Whether plaintiff was knowingly concerned or an intentional participant in the breach. LEGISLATION CITED : Corporations Law ss. 97 and 1324 Bluebird Investments Pty Ltd & Ors v Graf & Ors (1994) 13 ACSR 271 Catt & Ors v Marac Australia (1987) 9 NSWLR 639 Consul Development Pty Ltd v D.P.C. Estates Pty Ltd (1975) 132 CLR 373 Elders Trustee & Executor Co Ltd v EG Reeves Pty Ltd & Ors (1988) 78 ALR 193 CASES CITED : House of Peace Pty Ltd & Anor v Bankstown City Council (2000) 48 NSWLR 498 Permanent Building Society v Wheeler (1994) 14 ACSR 109 Taylor v Johnson (1983) 151 CLR 422 White v Bristol Aeroplane Co Ltd [1953] 1 Ch 65 Yorke & Anor v Lucas (1985) 158 CLR 661 DECISION : Breach established. Plaintiff not knowingly concerned or intentional participant. Specific performance ordered.