Munstermann v Rayward; Rayward v Munstermann [2017] NSWSC 133

Supreme Court New South Wales

Medium Neutral Citation: Munstermann v Rayward; Rayward v Munstermann [2017] NSWSC 133 Hearing dates: 20 – 22 February 2017 Decision date: 24 February 2017 Jurisdiction: Equity Before: Stevenson J Decision: Defendants to sell to plaintiffs their shares in third defendant at a price to be determined Catchwords: CORPORATIONS – oppression suit – plaintiff and defendant sole directors and equal shareholders of proprietary company – no shareholders agreement –deadlock – whether defendant engaged in conduct contrary to interests of members as a whole or unfairly prejudicial to plaintiff Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Campbell v Backoffice Investments Pty Ltd (2008) 66 ACSR 359; NSWCA 95 Campbell v Backoffice Investments Pty Ltd (2009) 238 CLR 304; HCA 25 Cassegrain v CTK Engineering Pty Ltd [2005] NSWSC 495 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (1998) 28 ACSR 688; NSWSC 413 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd (2001) 37 ACSR 672; NSWCA 97 Gerard Cassegrain & Co Pty Ltd v Cassegrain [2011] NSWSC 1156 Nassar v Innovative Precasters Group Pty Ltd (2009) 71 ACSR 343 Patterson v Humfrey [2014] WASC 446 Re a company; ex parte Shooter (No 2) [1991] BCLC 267 Re Brenfield Squash Racquets Club Ltd [1996] 2 BCLC 184 Re Enterprise Gold Mines NL (1991) 9 ACLC 168 Re Quest (1992) 6 ACSR 659 Smith Martis Cork & Rajan Pty Ltd v Benjamin Corporation Pty Ltd (2004) ALR 136 United Rural Enterprises Pty Ltd v Lopmand Pty Ltd (2003) 47 ACSR 514 Wayde v NSW Rugby League Ltd (1985) 180 CLR 459 Category: Principal judgment Parties: Marcus Otto Munstermann (Plaintiff/First Cross-Defendant) Mark Lindsay Rayward (First Defendant/Cross-Claimant) Mazmark Industries Pty Limited (Second Defendant/Cross-Claimant) QIA Group Pty Limited (Third Defendant/Third Cross-Defendant) Fuseworx Pty Limited (Fourth Defendant/Second Cross-Defendant) Representation: Counsel: A S McGrath SC (Plaintiff, Fourth Defendant and Cross-Defendants) D K L Raphael (First and Second Defendants and Cross-Claimants)