Carpenter v Pioneer Park Pty Ltd [2004] NSWSC 1007

Reported Decision : 51 ACSR 299 (2005) 23 ACLC 93

New South Wales Supreme Court

CITATION : Carpenter v Pioneer Park Pty Ltd [2004] NSWSC 1007 HEARING DATE(S) : 25/10/04 JUDGMENT DATE : 29 October 2004

JURISDICTION: Equity Division Corporations List JUDGMENT OF : Barrett J DECISION : Leave granted for proceedings to be brought on behalf of company

CATCHWORDS : CORPORATIONS - derivative action - application for leave to bring proceedings on behalf of company - statutory jurisdiction applicable to companies generally - inherent power of court in relation to companies in liquidation - relevant criteria discussed - position of liquidator qua costs - protection of insolvent company against costs consequences LEGISLATION CITED : Corporations Act 2001 (Cth), ss.236, 237, 240, Parts 2F.1A, 5.3A Aliprandi v Griffith Vitners Pty Ltd (1991) 6 ACSR 250 Bibra Lake Holdings Pty Ltd v Firmadoor Australia Pty Ltd (1992) 7 WAR 1 BL & GY International Co Ltd v Hypec Electronics Pty Ltd (2001) 164 FLR 268 Brightwell v RFB Holdings Pty Ltd (2003) 171 FLR 464 Charlton v Baber (2003) 47 ACSR 31 McLean v Lake Como Venture Pty Ltd [2003] QCA 562 Metyor Inc v Queensland Electronic Switching Pty Ltd [2003] 1 QdR 186 CASES CITED : Mhanna v Sovereign Capital Ltd [2004] FCA 1040 Mhanna v Sovereign Capital Ltd [2004] FCA 1252 Pioneer Park Pty Ltd v Carpenter [2004] NSWSC 521 Re Buena Vista Motors Pty Ltd [1971] 1 NSWLR 72 Roach v Winnote Pty Ltd [2001] NSWSC 822 Soper v Australian Securities and Investments Commission [2004] FCA 854 Swansson v R A Pratt Properties Pty Ltd (2002) 42 ACSR 313 William Kamper v Applied Soil Technology Pty Ltd [2004] NSWSC 891 Clifford John Carpenter - Plaintiff PARTIES : Pioneer Park Pty Limited (In Liquidation) - Defendant