In the matter of Austral Alloys Pty Ltd [2017] NSWSC 1833

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Austral Alloys Pty Ltd [2017] NSWSC 1833 Hearing dates: 30 November 2017 Date of orders: 30 November 2017 Decision date: 30 November 2017 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Originating process and cross-claim dismissed Catchwords: CORPORATIONS – winding up – (CTH) Corporations Act 2001, s 461 – application by shareholders for winding up on just and equitable ground – where company is operating prosperously – where relationship between shareholders does not seriously impact functionality of company – where basis on which plaintiffs purchased share capital has not been falsified – held, winding up order declined. Legislation Cited: (CTH) Corporations Act 2001, s 232, 233 Cases Cited: Accurate Financial Consultants Pty Ltd v Koko Black Pty Ltd (2008) 66 ACSR 325 Carpenter v Carpenter Grazing Co Pty Ltd (1987) BC8701391 Ebrahimi v Westbourne Galleries Ltd [1973] AC 360 Jankar v Dellmain [2009] NSWSC 766 Johnny Ocean Restaurant Pty Ltd v Page [2003] NSWSC 952 Khamo v Excel Cleaning Services Pty Ltd (2004) 51 ACSR 397 Malandris v Palmreef Pty Ltd (Federal Court of Australia, Mansfield J, 12 March 1997) Malos v Malos (2003) 44 ACSR 511 McMillan v Toledo Enterprises International Pty Ltd (1995) 18 ACSR 603 McWilliam v LJR McWilliam Estates Pty Ltd (1990) 20 NSWLR 703 MMAL Rentals Pty Ltd v Bruning [2004] NSWCA 451 Nassar v Innovative Precasters Group Pty Ltd (2009) 71 ACSR 344 Ngatoa v Ford (1990) 19 NSWLR 72 Tomanovic v Argyle Hq Pty Ltd [2010] NSWSC 152 Tomanovic v Global Mortgage Equity Corporation Pty Ltd [2011] 84 ACSR 121 Yenidje Tobacco Company Limited, Re [1916] 2 Ch 426 Category: Principal judgment Parties: Peter Morrison (first plaintiff) Brendan Quoyle (second plaintiff) Austral Alloys Pty Ltd (first defendant) Paul Hinson (second defendant) Representation: Counsel: J Darams with D Thomas (plaintiffs) J Ireland (second defendant)