In the matter of Citigroup Global Markets Australia Pty Limited [2017] NSWSC 969

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Citigroup Global Markets Australia Pty Limited [2017] NSWSC 969 Hearing dates: 19 May 2017 Date of orders: 20 July 2017 Decision date: 20 July 2017 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Application for summary dismissal dismissed. Proceedings to continue on pleadings. Plaintiff to pay defendant's costs. Catchwords: CORPORATIONS – financial services and markets – financial products – warrants purchased on Australian Stock Exchange – whether arguable that defendant cancelled plaintiffs' warrants before expiration date – where warrant unambiguously expired on date of cancellation – where statutory contract under Corporations Act, s 793B, did not contain contrary term – where arguable case, not currently pleaded, that collateral contract contained contrary term, or that defendant made contrary representation – held, if proceedings continue, plaintiff to prepare statement of claim with reformulated case. Legislation Cited: (CTH) Corporations Act 2001, s 793B, s 793C, s 798H, s 1101B, s 1317HB Cases Cited: McRae v Commonwealth Disposals Commission (1951) 84 CLR 377 Transmarket Trading Pty Ltd v Sydney Futures Exchange Limited (2010) 188 FCR 1 Wily v King [2010] NSWSC 352 Category: Principal judgment Parties: Allan Per Leng Ong (plaintiff) Citigroup Global Markets Pty Limited (defendant) Representation: Counsel: A.F. Fernon (plaintiff/respondent) S.H. Hartford Davis (defendant/applicant)

Solicitors: Lex Fori (plaintiff/respondent) Henry Davis York (defendant/applicant) File Number(s): 2016/297894