In the matter of RUS Holdings (Australia) Pty Limited [2012] NSWSC 1075

Supreme Court New South Wales

Medium Neutral Citation: In the matter of RUS Holdings (Australia) Pty Limited [2012] NSWSC 1075 Hearing dates: 24 August 2012 Decision date: 24 August 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Plaintiffs authorised on an interim basis and subject to specified conditions to institute and prosecute proceedings in the name of and on behalf of the First and Second Defendants. Details consequential orders made. Catchwords: CORPORATIONS - Jurisdiction of court to grant leave to bring derivative proceedings under Corporations Act 2001 (Cth) s 237 nunc pro tunc - Whether absence of leave is a matter which goes to jurisdiction - Whether leave should be granted under Corporations Act 2001 (Cth) ss 236 and 237 - Satisfaction of court as to whether a serious question to be tried exists. Legislation Cited: - Corporations Act 2001 (Cth) ss 232, 233, 236-237, 236, 237, 241, 459G Cases Cited: - Berowra Holdings Pty Ltd v Gordon [2006] HCA 32; (2006) 225 CLR 364 - David Grant & Co Pty Ltd v Westpac Banking Corporation [1995] HCA 43; (1995) 184 CLR 265 - Emanuele v Australian Securities Commission [1997] HCA 20; (1997) 188 CLR 114 - Maher v Honeysett and Maher Electrical Contractors Pty Ltd [2005] NSWSC 859 - Re Testro Brothers Consolidated Ltd [1965] VR 18 - South Johnstone Mill Ltd v Dennis [2007] FCA 1448; (2007) 163 FCR 343; 163 FCR 343; 64 ACSR 447 Category: Interlocutory applications Parties: Vincent Martin (First Plaintiff) Valzan Pty Limited (Second Plaintiff) RUS Holdings (Australia) Pty Limited (First Defendant) RUS Mining Pty Limited (Second Defendant) Hebei Jikai Industrial Group Co Limited (Third Defendant) Representation: Counsel: M. Condon (Plaintiff) D. Pritchard SC (Third Defendant) Solicitors: Crisp Lawyers (Plaintiff) Wang & Associates (Third Defendant) File Number(s): 12/262277