Shirim v Fesena [2002] NSWSC 10

New South Wales Supreme Court

CITATION : Shirim v Fesena [2002] NSWSC 10 CURRENT JURISDICTION: Equity Division FILE NUMBER(S) : SC 4086/94 HEARING DATE(S) : 28/11/01, 29/11/01, 30/11/01 JUDGMENT DATE : 25 January 2002

1P/1A - Shirim Pty Limited 2P/2R - James Robert Smith v PARTIES : 1D/1R - Fesena Pty Limited 2D/2R - Eastern Surburbs Private Hospital Pty Limited 3D/3R - Hapday Holdings Pty Limited 4D/4R - Tracknew Holdings Pty Limited 5D/5R - Macquarie Hospital Services Pty Limited JUDGMENT OF : Davies AJ

LOWER COURT Supreme Court JURISDICTION : LOWER COURT 4086/94 FILE NUMBER(S) : LOWER COURT Master McLaughlin JUDICIAL OFFICER :

COUNSEL : Ps/As - Mr N Cotman SC, Mr E Finnane Ds/ Rs - Mr G Lindsay SC, Ms M Painter SOLICITORS : Ps/As - McCabe Terrill, Lawyers Ds/Rs - Thompson Eslick, Solicitors CATCHWORDS : Corporations - oppression of minority - order that majority shareholders purchase shares and units of minority - appeal from Master as to the value to be paid on transfer - discussion of principles upon which compensation for oppression assessed. LEGISLATION CITED : Corporations Law s. 260 Scottish Co-operative Wholesale Society Ltd v Meyer [1959] AC 324 Re Bird Precision Bellows Ltd [1986] 1 Ch 658 Re Bagot Well Pastoral Company Pty Ltd; Shannon v Reid (1992) 11 ACLC 1 Re London School of Electronics Ltd [1985] 3 WLR 474 Re O C (Transport) Services Ltd [1984] BCLC 251 CASES CITED : Re Jermyn Street Turkish Baths Ltd (1971) 1 WLR 1042 Coombs v Dynasty Pty Ltd (1994) 12 ACLC 915 Dynasty Pty Ltd v Coombs (1995) 59 FCR 122 John J Starr (Real Estate) Pty Ltd v Robert R Andrew (A'Asia Pty Ltd) (1991) 6 ASCR 63 Re Broadcasting Station 2 GB pty Ltd (1964-5) NSWR 1648 Re H R Harmer Ltd [1958[ 3 All ER 689 DECISION : See paragraph 78