Frazer v Macquarie Airports Management Ltd [2009] NSWSC 1057

Reported Decision : 74 ASCR 312

New South Wales Supreme Court

CITATION : Frazer v Macquarie Airports Management Ltd [2009] NSWSC 1057

HEARING DATE(S) : 28-29/09/09

JUDGMENT DATE : 29 September 2009

JURISDICTION : Equity

JUDGMENT OF : White J

EX TEMPORE JUDGMENT DATE : 29 September 2009

DECISION : 1. Order that the plaintiffs' claims for relief in para 5 of the originating process be dismissed; 2. Order that the plaintiffs pay the defendants' costs of the proceedings to date on the indemnity basis and direct that the costs be assessed forthwith and will be payable forthwith after agreement or assessment; 3. Stand over to the Corporations List before the Registrar on 6/10/09.

CATCHWORDS : EQUITY – equitable remedies – injunctions – application to restrain company meeting from considering resolutions - serious question to be tried – significance of absence of undertaking as to damages – balance of convenience favours rejection of the application – indemnity costs awarded

LEGISLATION CITED : Corporations Act 2001 (Cth)

Kerridge v Foley [1968] 1 NSWR 628 CASES CITED : Air Express Ltd v Ansett Transport Industries (Operations) Pty Ltd [1981] HCA 75; (1981) 146 CLR 249 Kolback Securities Ltd v Epoch Mining NL (1987) 8 NSWLR 533 ENT Pty Ltd v Sunraysia Television Ltd [2007] NSWSC 270; (2007) 61 ACSR 626

TEXTS CITED : Young, Croft & Smith, On Equity (2009)

1st Plaintiff: Scott Frazer PARTIES : 2nd Plaintiff: Kjeld Binger 1st Defendant: Macquarie Airports Management Limited 2nd Defendant: Macquarie Airports Limited

FILE NUMBER(S) : SC 4691/09