LCM Litigation Fund Pty Ltd v Coope; Coope v LCM Litigation Fund Pty Ltd (No 2) [2015] NSWSC 992

Supreme Court New South Wales

Medium Neutral Citation: LCM Litigation Fund Pty Ltd v Coope; Coope v LCM Litigation Fund Pty Ltd (No 2) [2015] NSWSC 992 Hearing dates: 17-19 and 22 June 2015 Decision date: 24 July 2015 Jurisdiction: Equity Division Before: Stevenson J Decision: Plaintiff entitled to terminate defendant's employment contract for misconduct Catchwords: CONTRACTS – employment as managing director – whether failure to disclose element of "wind down" proposal with joint venturer was serious misconduct for the purposes of managing director's employment contract – whether failure to disclose employment proposal with joint venturer simultaneously with submission of separation proposal to company was serious misconduct; CORPORATIONS – whether any damages to which defendant might be entitled unavailable by reason of s 200B or capped by reason of s 200F(2) of the Corporations Act 2001 (Cth) Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Adami v Maison de Luxe Ltd (1924) 35 CLR 143 Blyth Chemicals Ltd v Bushnell (1933) 49 CLR 66 Blackmagic Design Pty Ltd v Overliese [2011] FCAFC 24 Breen v Williams [1996] HCA 57; 186 CLR 71 LCM Litigation Fund Pty Ltd v Coope; Coope v LCM Litigation Fund Pty Ltd (No 3) [2015] NSWSC 1156 North v Television Corporation Ltd (1976) 11 ALR 599 Rankin v Marine Power International Pty Ltd [2001] VSC 150 Category: Principal judgment Parties: LCM Litigation Fund Pty Ltd (Plaintiff/Cross-Defendant) Patrick Mark Coope (Defendant/Cross-Claimant) Representation: Counsel: F M Douglas QC with S Fendekian (Plaintiff/Cross-Defendant) J Clarke SC with Y Shariff (Defendant/Cross-Claimant)