In the matter of Optimisation Australia Pty Ltd (No 2) [2014] NSWSC 1394

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Optimisation Australia Pty Ltd (No 2) [2014] NSWSC 1394 Hearing dates: Friday, 10 October 2014 Decision date: 10 October 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Order that company advance surplus funds on loan account to directors. Order that defendant be restrained from paying company expenses without notice to plaintiff Catchwords: CORPORATIONS - members rights and remedies - oppression - exclusion of director/member from management - retention of the whole of the company profits without declaring a dividend is oppressive - whether interlocutory relief should be granted Legislation Cited: (Cth) Corporations Act 2001, s 232, 233 Cases Cited: Australian Broadcasting Corporation v O'Neill (2006) 227 CLR 57; [2006] HCA 46 Business World Computers Pty Ltd v Australian Telecommunications Commission (1988) 82 ALR 499 Re Courtesy Real Estate Pty Ltd (2013) 96 ACSR 593; [2013] NSWSC 1666 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (1998) 28 ACSR 688 Re G Jeffery (Mens Store) Pty Ltd (1984) 9 ACLR 193 Reid v Bagot Well Pastoral Co Pty Ltd; Shannon v Reid (1993) 12 ACSR 197 Re City Meat Co Pty Limited (1983) 8 ACLR 673 Thomas v HW Thomas Ltd [1984] 1 NZLR 686 Category: Interlocutory applications Parties: Brian Raymond Kearney (plaintiff) Optimisation Australia Pty Limited (first defendant) Gary Williams (second defendant) Susan Williams (third defendant) Sharmark Pty Ltd (fourth defendant) Representation: Counsel: B Kearney (in person) (plaintiff) D Gasic (solicitor) (defendants) Solicitors: Australian Business Lawyers & Advisers (defendants) File Number(s): 2013/153589