NSW Caselaw
New South Wales Supreme Court
CITATION : New Cap Reinsurance Corporation Ltd v Daya [2008] NSWSC 64
HEARING DATE(S) : 11/10/07, 19/10/07, 31/1/08
JUDGMENT DATE : 13 February 2008
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Barrett J
DECISION : Various claims in proposed amended cross claim to be dismissed
CATCHWORDS : CORPORATIONS - winding up - recovery at suit of liquidator against directors for insolvent trading - claim by one director for indemnity by company - circumstances not within indemnity provision - indemnity in any event precluded by statute - TRADE AND COMMERCE - misleading or deceptive conduct - representations by directors and chief financial officer to director in board meeting - representations by director to another director and other persons at due diligence committee meeting - whether conduct "in trade or commerce" - CORPORATIONS - whether one corporation a "related body corporate" of another - evidence needed
Australian Securities and Investments Commission Act 2001 (Cth), ss 12DA, 12GF, 12GH, 12GM Civil Procedure Act 2005, s 64(1)(b) Corporations Act 2001 (Cth), ss 140(1)(b), 199A(2), 241, 500, 588G(2), 588M(2) LEGISLATION CITED : Corporations Law, ss 9, 46, 50, 995, 1005, Regulation 7.12.03 Evidence Act 1995, s 91 Fair Trading Act 1987, ss 42, 68 Law Reform (Miscellaneous Provisions) Act 1946, s 5 Trade Practices Act 1974, ss 52, 82
CATEGORY : Procedural and other rulings
Burke v LFOT Pty Ltd [2002] HCA 17; (2002) 209 CLR 282 Cleary v Australian Co-operative Foods Ltd [1999] NSWSC 991 and 1062; (1999) 32 ACSR 701 Concrete Constructions (NSW) Pty Ltd v Nelson [1990] HCA 17; (1990) 169 CLR 594 Fasold v Roberts (1997) 70 FCR 489 Firewatch Australia Pty Ltd v Country Fire Authority (1999) 93 FCR 520 General Steel Industries Inc v Commissioner for Railways (NSW) [1964] HCA 69; (1964) 112 CLR 125 CASES CITED : Houghton v Arms (2006) 225 CLR 553 Ingot Capital Investments v Macquarie Equity Capital Markets [2007] NSWSC 124; (2007) 63 ACSR 1 NRMA Ltd v Yates [1999] NSWSC 859; (2000) 18 ACLC 45 Prestia v Aknar (1996) 40 NSWLR 165 R v Byrnes [1995] HCA 1; (1995) 183 CLR 501 at CLR 514-515 Vagrand Pty Ltd v Fielding (1993) 41 FCR 550 Yates v Whitlam [1999] NSWSC 976; (1999) 32 ACSR 595
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