NSW Caselaw
New South Wales Supreme Court
CITATION : Carolia Pty Ltd & Ors v Crompton & Ors [2010] NSWSC 493
HEARING DATE(S) : 29.03.10, 30.03.10, 31.03.10, 01.04.10, 06.04.10, 07.04.10, 08.04.10, 09.04.10, 12.04.10
JUDGMENT DATE : 21 May 2010
JUDGMENT OF : Windeyer AJ
The orders will be: (1) judgment for the plaintiff Paul Hargreaves against the first and second defendants for $40,000; DECISION : (2) judgment for the plaintiff Elizabeth Hargreaves against the first and second defendants for $40,000; (3) costs reserved for argument; and (4) proceedings otherwise dismissed.
CATCHWORDS : CONTRACT – partly written partly oral – 2004 version signed by defendants 2006 version signed by plaintiffs – no significant difference between them – parties accepted they were bound by terms and acted on them – agreement between two groups of shareholders – whether shares to be issued as unpaid or as fully paid in consideration of work to be done CONTRACT – shareholders agreement – each shareholder entitled to be director or appoint director – quorum for directors meeting required attendance by director appointed by each shareholder – two directors resigned but meetings continued – whether resolutions valid DAMAGES – shares lost as result of breach of shareholders agreement – question of damages for value of shares lost CORPORATIONS – shareholders agreement – conduct in breach of agreement – value of shares EVIDENCE – claim of forgery – standard of proof
LEGISLATION CITED : Corporations Act 2001 (Cth) Fair Trading Act 1987
CATEGORY : Principal judgment
CASES CITED : Branir Pty Ltd v Owston Nominees (No 2) Pty Ltd [2001] FCA 1833; (2001) 117 FCR 424 Neat Holdings Pty Ltd v Karajan Holdings Pty Ltd (1992) 110 ALR 449; (1992) 67 ALJR 170
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