Coast Reo v Asset Builders [2007] NSWSC 853

New South Wales Supreme Court

CITATION : Coast Reo v Asset Builders [2007] NSWSC 853

HEARING DATE(S) : 30 July 2007 JUDGMENT OF : Hammerschlag J

EX TEMPORE JUDGMENT DATE : 30 July 2007

DECISION : Mr Paul Alexander Russell is authorised to inspect the books of Asset Builders Pty Limited ACN 087 721 220 on behalf of the plaintiff, Coast Reo Pty Limited. Without the prior written consent of the defendant or order of this Court copies of books so inspected are not to be taken.

CATCHWORDS : CORPORATIONS – Application under s 247A(1)(b) and (2) of the Corporations Act 2001 (Cth) by a shareholder for an order authorising inspection of company's books – Shareholder neither nominal nor recent – Inspection in good faith and for proper purpose – Where documents commercial in confidence copies not to be taken without prior consent or order of the Court - Liberty to apply

LEGISLATION CITED : Corporations Act 2001(Cth)

CASES CITED : Quinlan v Vital Technology Australia Ltd (1987) 5 ACLC 389

PARTIES : Coast Reo Pty Ltd Asset Builders Pty Ltd

FILE NUMBER(S) : SC 2532/2006

COUNSEL : D.J. Durston (Plaintiff) N. Bearup (Defendant)

SOLICITORS : Peninsula Law (Plaintiff) Sachs Gerace Lawyers (Defendants)

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HAMMERSCHLAG

30 JULY 2007

2532/2006 COAST REO PTY LTD v ASSET BUILDERS PTY LTD EX TEMPORE JUDGMENT 1 HIS HONOUR: This is an application under s 247A(1)(b) and (2) of the Corporations Act 2001 (Cth) ("the Act") by the plaintiff, a member of the defendant, for an order authorising it to inspect the books of the defendant. It seeks that the inspection be undertaken on its behalf by Mr Paul Alexander Russell, a chartered accountant.