NSW Caselaw
New South Wales Court of Appeal
CITATION : CGU Insurance Ltd v Zurich Australian Insurance Ltd & Ors [2003] NSWCA 366 HEARING DATE(S) : 5 December 2003 JUDGMENT DATE : 5 December 2003
JUDGMENT OF : Mason P at 24; Sheller JA at 25; Giles JA at 2 DECISION : Appeal dismissed with costs.
CATCHWORDS : Company articles - offer to other shareholders at "fair value" - fair value determined "by reference to the value of the Company's net tangible assets" - whether solely by reference to value of net tangible assets - question of construction. CASES CITED : Griffiths v W E & D T Cave Ltd (1998) 78 P & CR 8. CGU Insurance Ltd - Appellant Zurich Australian Insurance Ltd - First Respondent Associated Marine Insurers Agents Pty Ltd - Second Respondent Michael Arthur Hill - Third Respondent PARTIES : Geoffrey Gerald Gauci - Fourth Respondent Anthony Earnest Day - Fifth Respondent John Leonard Butler - Sixth Respondent Ian Forbes Brown - Seventh Respondent Robert John Wagstaffe - Eighth Respondent FILE NUMBER(S) : CA 41024/03 M Pembroke SC & T Faulkner - Appellant COUNSEL : S Finch SC & L McCallum - First Respondent No appearance - Third Respondent Submitting appearances - Fourth to Eighth Respondents SOLICITORS : Mallesons Stephen Jaques - Appellant Baker & McKenzie - First Respondent
LOWER COURT Supreme Court - Equity Division JURISDICTION : LOWER COURT ED 50086/03 FILE NUMBER(S) : LOWER COURT McDougall J JUDICIAL OFFICER :
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