Cassegrain v Gerard Cassegrain & Co Pty Limited [2013] NSWCA 454

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Cassegrain v Gerard Cassegrain & Co Pty Limited [2013] NSWCA 454 Hearing dates: 21 and 22 February 2013 Decision date: 18 December 2013 Before: Beazley P at [1]; Basten JA at [158]; Macfarlan JA at [197] Decision: The appeal is dismissed with costs. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: CORPORATIONS - management and administration - officers of corporation - directors - fiduciary duties of directors - whether use of funds credited to company loan account was a breach of fiduciary duty where no entitlement to the funds.

ESTOPPEL - former adjudication - whether issue estoppel - whether existence of issue estoppel precludes the reception of further evidence - whether issue estoppel may be waived.

LIMITATION OF ACTIONS - proceedings for equitable relief - application of Limitation Act 1969 by analogy - whether any analogous limitation proceeding - whether Limitation Act, s 47 or s 14 applies to a fraudulent breach of fiduciary duty - whether Limitation Act, s 52 applies to a company in receivership.

APPEAL AND NEW TRIAL - appeal - general principles - whether appellate court will entertain a point not raised below - where evidence could have been given. Legislation Cited: Conveyancing Act 1919, s 26 Corporations Act 2001 (Cth), s 237 Limitation Act 1969, ss 11, 14, 23, 47, 52, 55, 63 Uniform Civil Procedure Rules 2005, r 14.18(1) Cases Cited: Arnold v National Westminster Bank [1991] 2 AC 93 Aussie Ideas v Tunwind [2006] NSWCA 286 Black & Black v S Freedman & Company [1910] HCA 58; 12 CLR 105 Blair v Curran [1939] HCA 23; 62 CLR 464 Burdick v Garrick (1870) LR 5 Ch 233 Cohen v Cohen [1929] HCA 15; 42 CLR 91 Commonwealth v Verwayen [1990] HCA 39; 170 CLR 394 Coulton v Holcombe [1986] HCA 33; 162 CLR 1 Creak v James Moore & Sons Pty Ltd [1912] HCA 67; 15 CLR 426 Denis Cassegrain v G Cassegrain & Co [2008] NSWSC 976; 68 ACSR 132 Foss v Harbottle (1843) 2 Hare 461; 67 ER 189 Gerard Cassegrain & Co Pty Ltd v Cassegrain [2011] NSWSC 1156 Gerard Cassegrain & Co Pty Ltd v Cassegrain [2011] NSWSC 1594 Grey v Manitoba and North Western Railway Co of Canada (1897) AC 254 Hawkesbury Development Pty Ltd v Landmark Finance Pty Ltd (1969) 92 WN (NSW) 199 Hospital Products Ltd v United States Surgical Corporation [1984] HCA 64; 156 CLR 41 Hoystead v Commissioner of Taxation (1926) AC 155 Island Maritime Limited v Filipowski [2006] HCA 30; 226 CLR 328 Keith Henry & Co Pty Ltd v Stuart Walker & Co Pty Ltd [1958] HCA 33; 100 CLR 342 Kok Hoong v Leong Cheong Kweng Mines Limited [1964] AC 993 Lombardo v Stuart Bros Pty Ltd (1967) 68 SR(NSW) 159 Lyell v Kennedy (1889) 14 App Cas 437 Metropolitan Bank v Heiron (1880) 5 Ex D 319 CA O'Brien v Komesaroff [1982] HCA 33; 150 CLR 310 O'Donel v Commissioner for Road Transport & Tramways (NSW) [1938] HCA 15; 59 CLR 744 Port of Melbourne Authority v Anshun Pty Ltd [1981] HCA 45; 147 CLR 589 R v Inhabitants of the Township of Hartington Middle Quarter (1855) 119 ER 288 Re Thoday [1964] P 181 CA 198 Republic of India v India Steamship Co Limited [1993] AC 410 Scottish Co-operative Wholesale Society Ltd v Meyer [1959] AC 324 Suttor v Gundowda Pty Ltd [1950] HCA 35; 81 CLR 418 The Duke Group Ltd (In liq) v Alamain Investments Ltd [2003] SASC 415; 232 LSJS 58 University of Wollongong v Metwally [No 2] (1985) 59 ALJR 481 Watt v Ahsan [2008] 1 AC 696 Wayde v New South Wales Rugby League Ltd [1985] HCA 68; 180 CLR Whitehorn Brothers v Davison (1911) 1 KB 463 Texts Cited: R P Austin and I M Ramsey, Ford's Principles of Corporations Law, 13th ed, (2007) LexisNexis Butterworths Category: Principal judgment Parties: Claude Cassegrain (Appellant) Gerard Cassegrain & Co Pty Limited (First Respondent) Denis Cassegrain (Second Respondent) Catherine Dunn (Third Respondent) John Baptiste Cassegrain (Fourth Respondent) Patrick Anthony Cassegrain (Fifth Respondent) Representation: Counsel: D E Grieve QC; P G Bolster (Appellant) B Walker SC; G Colyer (Respondents) Solicitors: Oliveri Lawyers (Appellant) McCabes (Respondents) File Number(s): CA 2012/76400 Decision under appeal Citation: Gerard Cassegrain & Co Pty Limited v Cassegrain [2011] NSWSC 1156 Date of Decision: 2011-09-29 00:00:00 Before: Barrett J File Number(s): 2008/280507