Showtime Management Australia Pty Ltd v Showtime Presents Pty Ltd [2008] NSWSC 618

New South Wales Supreme Court

CITATION : Showtime Management Australia Pty Ltd v Showtime Presents Pty Ltd [2008] NSWSC 618

HEARING DATE(S) : 4 and 5 June 2008

JUDGMENT DATE : 17 June 2008

JURISDICTION : Equity

JUDGMENT OF : Austin J

DECISION : Leave granted to bring proceedings on behalf of the first defendant company, nunc pro tunc.

CATCHWORDS : CORPORATIONS - statutory derivative action - allegation of breach of fiduciary duty said to be continuing after termination of company's business - whether court satisfied under s 237(2) with respect to good faith, best interests of the company and serious question to be tried - relevant considerations

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 236, 237

Chahwan v Euphoric Pty Ltd [2008] NSWCA 52 Chan v Zacharia (1984) 154 CLR 178 Green & Clara Pty Ltd v Bestobell Industries Pty Ltd [1982] WAR 1 Mesenberg v Cord Industrial Recruiters (1996) 19 ACSR 483 Ragless v IPA Holdings Pty Ltd (in liq) [2008] SASC 90 CASES CITED : Re Nerang Investments Pty Ltd (1985) 9 ACLR 646 Showtime Management Australia Pty Ltd v Showtime Presents Pty Ltd [2008] NSWSC 594 South Johnstone Mill Ltd v Dennis and Scales (2007) 64 ACSR 447 Swansson v R A Pratt Properties Pty Ltd (2002) 42 ACSR 313; [2002] NSWSC 583 United Dominions Corporation Ltd v Brian Pty Ltd (1985) 157 CLR 1 Williams v Spautz (1992) 174 CLR 509

Showtime Management Australia Pty Ltd (First Plaintiff/First Cross Defendant/First Respondent) John Edward Van Grinsven (Second Plaintiff/Second Cross Defendant/Second Respondent) PARTIES : Showtime Presents Pty Ltd (First Defendant) RockCity Event Marketing Pty Ltd (Second Defendant/First Cross Claimant) Peter Douglas Anderson (Third Defendant/Second Cross Claimant/Applicant)