In the matter of Tolco Pty Limited [2016] NSWSC 1069

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Tolco Pty Limited [2016] NSWSC 1069 Hearing dates: Friday, 29 May 2015 Date of orders: 03 August 2016 Decision date: 03 August 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: See paras [27]-[28] Catchwords: CORPORATIONS – members' rights and remedies – inspection of books – whether application made in good faith and for proper purpose – application by 50% shareholder in closely held company – application granted. Legislation Cited: (CTH) Corporations Act 2001, s 9, s 254T, s 247A, s 440D Cases Cited: Acehill Investments Pty Ltd v Incitec Ltd [2002] SASC 344 Barrack Mines Ltd v Grants Patch Mining Ltd (1987) 12 ACLR 357 Barrack Mines Ltd v Grants Patch Mining Ltd (No 2) [1988] 1 Qd R 606 Boulos v Carter (2005) 54 ACSR 827 Cescastle Pty Ltd v Renak Holdings Ltd (1991) 6 ACSR 115 Claremont Petroleum NL [No 2], Re [1990] 2 Qd R 310 Czerwinski v Syrena Royal Pty Ltd (No 1) (2000) 34 ACSR 245; [2000] VSC 125 ENT Pty Ltd v Sunraysia [2007] NSWSC 270; (2007) 61 ACSR 626 Garina Pty Ltd v Action Holdings Ltd (1989) 7 ACLC 962 Humes Ltd v Unity APA Ltd (No 1) [1987] VicRp 42; [1987] VR 467; (1986) 11 ACLR 641. Keenfern Pty Ltd v Thorlock International Ltd (2002) 20 ACLC 1322; [2002] WASC 142 Knightswood Nominees Pty Ltd v Sherwin Pastoral Co Ltd (1989) 15 ACLR 151; 7 ACLC 536. McNeill v Hearing & Balance Centre Pty Ltd [2007] NSWSC 942 Motasea Pty Ltd, In the matter of [2014] NSWSC 69 Praetorin Pty Ltd v TZ Ltd [2009] NSWSC 1237; (2009) 76 ACSR 236 Rowland v Meudon [2008] NSWSC 381; (2008) 220 FLR 362; 66 ACSR 83. Smartec Capital Pty Limited v Centro Properties Limited & Anor [2011] NSWSC 495 Snelgrove v Great Southern Managers Australia Ltd [2010] WASC 51 Style Ltd, Re; Merim Pty Ltd v Style Ltd [2009] FCA 314; (2009) 255 ALR 63 Tinios v French Caledonia Travel [1994] FCA 1154; (1994) 13 ACSR 658. United Rural Enterprises Pty Ltd v Lopmand Pty Ltd [2003] NSWSC 404 United Rural Enterprises Pty Ltd v Lopmand Pty Ltd (2003) 45 ACSR 271; [2003] NSWSC 405 Vinciguerra v MG Corrosion Consultants Pty Ltd [2007] FCA 503; (2007) 61 ACSR 583 Texts Cited: Christos Mantziaris, "The member's right to inspect the company books: Corporations Act, s 247A" (2009) 83 ALJ 621 Category: Principal judgment Parties: Tom Folino-Gallo & Sons Investments Pty Limited (plaintiff) Tolco Pty Limited (defendant) Representation: Counsel: G M McGrath (plaintiff) R Glasson (defendant)