In the matters of Beechworth Land Estates Pty Ltd (Admin apt) and Griffith Estates Pty Ltd (Admin Apt) [2014] NSWSC 1723

Supreme Court New South Wales

Medium Neutral Citation: In the matters of Beechworth Land Estates Pty Ltd (Admin apt) and Griffith Estates Pty Ltd (Admin Apt) [2014] NSWSC 1723 Hearing dates: 20, 25 November 2014 Decision date: 03 December 2014 Jurisdiction: Equity Division Before: Robb J Decision: Parties to bring in short minutes to reflect reasons for judgment Catchwords: CORPORATIONS – application to amend to plead new claims based on breach of director's duties owed to companies – whether amendment should be allowed in part-heard proceedings – terms upon which amendment should be allowed - whether Court should give leave to a contributory to prosecute claims for breach of director's duties on behalf of company – companies in administration – leave unable to be given under ss 236 and 237 Corporations Act 2001 (Cth) - inherent jurisdiction of Court – whether the plaintiffs' should provide security for indemnities given to companies in relation to costs Legislation Cited: Corporations Act 2001 (Cth) ss 236, 237, 436C, 439A, 440D Cases Cited: Aon Risk Services Australia Ltd v Australian National University (2009) 239 CLR 175 Carpenter v Pioneer Park Pty Ltd (2008) 71 NSWLR 577 Chahwan v Euphoric Pty Ltd t/as Clay & Michel [2008] NSWCA 52; (2008) 245 ALR 780; 65 ACSR 661 Oates v Consolidated Capital Services Ltd [2009] NSWCA 183; (2009) 76 NSWLR 69 Featherston Resources Ltd; Tetley v Weston [2014] NSWSC 1139 Category: Procedural and other rulings Parties: James Photios (first plaintiff) Perri Investments No 3 Pty Ltd (second plaintiff) James Edward Spencer (third plaintiff) Cleary Corporation Pty Ltd (fourth plaintiff) Redhill Estate Developments Pty Ltd (fifth plaintiff) First Debenture Limited (sixth plaintiff) Neil Robert Cussen and Ezio Marco Sentore in their capacity as joint administrators of Beechworth Land Estates Pty Ltd (administrators appointed) (first defendant) Beechworth Land Estates Pty Ltd (administrators appointed) (second defendant) Neil Robert Cussen and Ezio Marco Sentore in their capacity as joint administrators of Griffith Land Estates Pty Ltd (administrators appointed) (third defendant) Griffith Land Estates Pty Ltd (administrators appointed) (fourth defendant) Vangory Holdings Pty Ltd (fifth defendant) Vangory Services Pty Ltd (sixth defendant) Representation: Counsel: R Glasson (Plaintiffs) M Condon SC (first – fourth defendants) J T G Gibson (fifth – sixth defendants)