Mathews Capital Partners Pty Ltd v Coal of Queensland Holdings Limited [2012] NSWSC 462

Supreme Court New South Wales

Medium Neutral Citation: Mathews Capital Partners Pty Ltd v Coal of Queensland Holdings Limited [2012] NSWSC 462 Hearing dates: 27 and 30 April 2012 Decision date: 08 May 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Application for leave to bring statutory derivative proceedings not granted - order for inspection of documents not granted. Catchwords: CORPORATIONS - Statutory derivative action - Application to bring proceedings on behalf of company - Corporations Act 2001 (Cth) s 237(2) - Whether the Court is satisfied that the applicant is acting in good faith and in the best interests of the company in bringing proceedings - Whether there is a serious question to be tried. CORPORATIONS - Application for inspection of company's books - Corporations Act 2001 (Cth) s 247A - When the Court should make such an order. Legislation Cited: - Corporations Act 2001 (Cth) ss 228, 237, 237(2), 237(2)(a), 237(2)(b), 237(2)(c), 237(2)(d), 237(3), 237(3)(a)(i), 242, 247A, 247A(3)-(4), 247A(5) Cases Cited: - Barrack Mines Ltd v Grants Patch Mining Ltd (No 2) [1988] 1 Qd R 606 - Chahwan v Euphoric Pty Ltd t/as Clay & Michel [2008] NSWCA 52; (2008) 245 ALR 780; 227 FLR 43; 65 ACSR 661 - Co-operative Insurance Society Ltd v Argyll Stores (Holdings) Ltd [1998] AC 1 - Ermogenous v Greek Orthodox Community of SA Inc [2002] HCA 8; (2002) 209 CLR 95; 187 ALR 92 - Fitzpatrick v Cheal [2010] NSWSC 717 - GEC Marconi Systems Pty Ltd v BHP Information Technology Pty Ltd [2003] FCA 50 - Gerard Cassegrain & Co Pty Ltd v Cassegrain [2010] NSWSC 91 - Chen v Laredo Pty Ltd [2005] WASC 58 - Codelfa Construction NSW Pty Ltd v State Rail Authority of NSW [1982] HCA 24; (1982) 149 CLR 337 - Goozee v Graphic World Group Holdings Pty Ltd [2002] NSWSC 640; (2002) 42 ACSR 534 - Maher v Honeysett and Maher Electrical Contractors Pty Ltd [2005] NSWSC 859 - Majestic Resources NL v Caveat Pty Ltd [2004] WASCA 201 - Melway Publishing Pty Ltd v Robert Hicks Pty Ltd [2001] HCA 13; (2001) 205 CLR 1 - MG Corrosion Consultants Pty Ltd v Vinciguerra [2011] FCAFC 31 - Power v Ekstein [2010] NSWSC 137 - Re Gladstone Pacific Nickel Ltd [2011] NSWSC 1235; (2011) 86 ACSR 432 - Showtime Management Australia Pty Ltd v Showtime Presents Pty Ltd [2008] NSWSC 618 - South Johnstone Mill Ltd v Dennis and Scales [2007] FCA 1448; (2007) 64 ACSR 447 - Swansson v RA Pratt Properties Pty Ltd [2002] NSWSC 583; (2002) 42 ACSR 313 - Vinciguerra v MG Corrosion Consultants Pty Ltd [2010] FCA 763 - Western Export Services Inc v Jireh International Pty Ltd [2011] HCA 45 Category: Principal judgment Parties: Mathews Capital Partners Pty Ltd (Plaintiff) Coal of Queensland Holdings Ltd (Defendant) Representation: Counsel: P.J. Brereton SC/R.C.A. Higgins (Plaintiff) J.C. Hewitt (Defendant) Solicitors: Minter Ellison (Plaintiff) Clifford Chance (Defendant) File Number(s): 12/112786