Yoo v Toppro Pty Ltd & Ors [2016] NSWSC 670

Supreme Court New South Wales

Medium Neutral Citation: Yoo v Toppro Pty Ltd & Ors [2016] NSWSC 670 Hearing dates: 30, 31 March, 1 April and 3 May 2016 Decision date: 26 May 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order for rectification of share register of company and ancillary orders to be made in favour of Plaintiff. Cross-Claims dismissed. Second Defendant and Fourth Defendant to pay costs of Plaintiff as agreed or as assessed. Catchwords: CORPORATIONS — Application for rectification of company's share register under s 175 of the Corporations Act 2001 (Cth) — where plaintiff sought declarations that purported transfers of shares to second and fourth defendants are void – whether there was an equitable assignment of the plaintiff's equitable interest in shares by reason of delivery of the executed transfer form to the nominated transferee – whether plaintiff expressed an immediate intention to dispose of his equitable interest in shares so as to effect an equitable assignment – whether the plaintiff had revoked the offer, or any authority, to sell the shares to the nominated transferee before it was accepted or implemented – where the share transfer form was amended without being initialled by plaintiff and without communication with him – whether estoppel claims against the plaintiff established. Legislation Cited: - Conveyancing Act 1909 (NSW), s 184 - Corporations Act 2001 (Cth), ss 175, 1071B,1072F, 1073F, Pt 7.11 - Evidence Act 1995 (Cth), ss 136, 140 Cases Cited: - Anning v Anning [1907] HCA 13; (1907) 4 CLR 1049 - Ashton v Pratt [2015] NSWCA 12; (2015) 318 ALR 260 - Australia & New Zealand Banking Group Ltd v Frenmast Pty Ltd [2013] NSWCA 459 - Beck v Tuckey Pty Ltd [2007] NSWSC 1065; (2007) 213 FLR 152 - Briginshaw v Briginshaw [1938] HCA 34; (1938) 60 CLR 336 - Chidiac v Bhatt [2014] NSWSC 1253 - Combulk Pty Ltd v TNT Management Pty Ltd (1993) 113 ALR 214 - Commonwealth v Verwayen [1990] HCA 39; (1990) 170 CLR 394 - Comptroller of Stamps (Vic) v Howard-Smith [1937] VLR 15; (1936) 54 CLR 614 - Corin v Patton [1990] HCA 12; (1990) 169 CLR 540 - DHJPM Pty Ltd v Blackthorn Resources Ltd (formerly called AIM Resources Ltd) [2011] NSWCA 348; (2011) 83 NSWLR 728 - Equuscorp Pty Ltd v Glengallen Investments Pty Ltd [2004] HCA 55; (2004) 218 CLR 471 - Ku v Song [2007] FCA 1189; (2007) 63 ACSR 661 - Lysaght Bros & Co Ltd v Falk [1905] HCA 7; (1905) 2 CLR 421 - Midas Management Pty Ltd v Equator Communications Pty Ltd [2008] NSWSC 255 - Neat Holdings Pty Ltd v Karajan Holdings Pty Ltd [1992] HCA 66; (1992) 110 ALR 449 - Neonbrook Pty Ltd v Thusi Pty Ltd [1997] QCA 335 - Noonan v Martin (1987) 10 NSWLR 402 - Norman v Federal Commissioner of Taxation (1963) 109 CLR 9 - Raftland Pty Ltd v Federal Commissioner of Taxation [2008] HCA 21; (2008) 238 CLR 516 - Re Casey's Patents; Stewart v Casey [1892] 1 Ch 104 - Re Centura Global Holdings Pty Ltd [2016] NSWSC 62 - Re Colorado Products Pty Ltd (in prov liq) [2014] NSWSC 789; (2014) 101 ACSR 233 - Re McArdle (dec'd) [1951] 1 Ch 669 - Re Williams; Williams v Ball [1917] 1 Ch 1 - Riches v Hogben [1985] 2 Qd R 292 - Rosebanner Pty Ltd v Energy Australia [2009] NSWSC 43; (2009) 223 FLR 460 - Saba v Moit Projects [2014] NSWSC 1759 - Saleh v Romanous [2010] NSWCA 274; (2010) 79 NSWLR 453 - Sharrment Pty Ltd v Official Trustee in Bankruptcy (1988) 18 FCR 449 - Spalla v St George Wholesale Finance Pty Ltd [1999] FCA 1566; (1999) FCR 359 - Tszyu v Fightvision Pty Ltd; Fightvision Pty Ltd v Onisforou [1999] NSWCA 323; (1999) 47 NSWLR 473 - Vaughan v Duncan [2005] NSWSC 670 - Waltons Stores (Interstate) Ltd v Maher [1988] HCA 7; (1988) 164 CLR 387 - Whitlam v Australian Securities and Investments Commission (2003) 57 NSWLR 559 - Wright v Gasweld Pty Ltd (1991) 22 NSWLR 317 Texts Cited: - EGL Tyler et al, Fisher & Lightwood's Law of Mortgage, (3rd ed 2014, LexisNexis Butterworths) - JD Heydon et al, Meagher, Gummow & Lehane's Equity Doctrines and Remedies (5th ed 2015, LexisNexis Butterworths) - S Worthington, Personal Property Law (2000, Oxford) - Snell's Principles of Equity (1939, 22nd ed) Category: Principal judgment Parties: Il Nam Yoo (Plaintiff/First Cross-Defendant on First and Second Cross-Claims) Toppro Pty Ltd (First Defendant) Ok Ja Joo (Second Defendant/Cross-Claimant on First Cross-Claim) Jae Joo Kim (Third Defendant) Wealth Wisdom Investments Limited (Fourth Defendant/Cross-Claimant on Second Cross-Claim) Jin Hee Hong (Second Cross-Defendant on First and Second Cross-Claims) Representation: Counsel: J R Young (Plaintiff/First Cross Defendant) M Neil SC/S O'Brien (Defendants/Cross-Claimants) A R Zahra (Second Cross-Defendant)