In the matter of PJL Group Pty Limited [2018] NSWSC 756

Supreme Court New South Wales

Medium Neutral Citation: In the matter of PJL Group Pty Limited [2018] NSWSC 756 Hearing dates: 19 March 2018 Date of orders: 21 March 2018 Decision date: 21 March 2018 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Oppression suit transferred to Family Court of Australia Catchwords: CORPORATIONS – Courts and jurisdiction – transfer of proceedings – where matrimonial proceedings pending in family court – where wife controls and husband has shareholding in T Co, which in turn has substantial shareholding in P Co – where P Co proposes to issue shares, arguably at undervalue, which would dilute T Co's shareholding below 25% - where wife and T Co contend that share issue would be oppressive, and also would be a transaction to defeat her matrimonial claim within Family Law Act s 106B – where Supreme Court could hear oppression suit more expeditiously – held, more appropriate that oppression suit be heard in Family Court. Legislation Cited: (CTH) Corporations Act 2001, s 232, s 233, s 1337C, s 1337H, s 1337L (CTH) Family Law Act 1975, s 79, s 106B (CTH) Jurisdiction of Courts (Cross-Vesting) Act 1987, s 4(1) (NSW) Jurisdiction of Courts (Cross-vesting) Act 1987, s 5 Cases Cited: Ferrall v Blyton, Attorney General of the Commonwealth Intervener [2000] FamCA 1442, (2000) 27 FamLR 178 Official Trustee in Bankruptcy v Bassola (1986) 11 FamLR 557 Turnbull, In the Marriage of (1990) 102 FLR 443; (1990) 15 FamLR 81. Category: Principal judgment Parties: Tykade Mechanical Pty Limited (plaintiff) PJL Group Pty Limited (defendant) Representation: Counsel: C E Alexander (plaintiff) M T Fernandes (defendant)