NSW Caselaw
Reported Decision : 61 ACSR 395 (2007) 25 ACLC 254
New South Wales Supreme Court
CITATION : Mopeke Pty Ltd & Ors v Airport Fine Foods Pty Ltd & Ors [2007] NSWSC 153
HEARING DATE(S) : 8-12 May 2006 Written submissions 26 May 2006
JUDGMENT DATE : 2 March 2007
JURISDICTION : Equity Division
JUDGMENT OF : Brereton J
DECISION : Order for purchase of shares of minority at valuation.
CATCHWORDS : CORPORATIONS – oppression and unfair prejudice – exclusion of member from day-to-day management – quasi-partnership – indicia of quasi-partnership corporation – valuation of shares.
LEGISLATION CITED : (NSW) Contracts Review Act 1980 (Cth) Corporations Act 2001, s 233
Dynasty Pty Ltd v Coombs (1995) 59 FCR 122 Ebrahimi v Westbourne Galleries Ltd [1973] AC 360 Elmslie v Federal Commissioner of Taxation (1993) 93 ATC 4964, 46 FCR 576 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (1998) 28 ACSR 688, [1998] NSWSC 413 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (2001) 37 ACSR 672, [2001] NSWCA 97 Hogg v Dymock (1993) 11 ACSR 14 CASES CITED : Morgan v 45 Flers Avenue Pty Ltd (1986) 10 ACLR 692 Re a Company (No 00709 of 1992); O'Neill v Phillips [1999] 1 WLR 1092, [1999] 2 All ER 961 Re Bird Precision Bellows Ltd [1986] Ch 658 Re D G Brims and Sons Pty Ltd (1995) 16 ACSR 559 Thomas v H W Thomas Ltd [1984] 1 NZLR 686 Wayde v NSW Rugby League Ltd (1985) 180 CLR 459 Austin & Ramsay, Ford's Principles of Corporations Law (12th Ed) Lonergan, The Valuation of Businesses, Shares and Other Equity (4th Ed)
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