Tydeman v Tibra Capital Pty Limited (No 2) [2018] NSWSC 884

Supreme Court New South Wales

Medium Neutral Citation: Tydeman v Tibra Capital Pty Limited (No 2) [2018] NSWSC 884 Hearing dates: 9 February; 3, 5 April 2018 Date of orders: 15 June 2018 Decision date: 15 June 2018 Jurisdiction: Equity - Applications List Before: Parker J Decision: 1. Order that the title of the proceedings be varied so as to name Catherine Alexis Tydeman as first plaintiff and James Scott Tydeman as second plaintiff.

2. Order that the plaintiffs' Notice of Motion of 19 January 2018 be dismissed.

3. Order that the proceedings be dismissed.

4. Order that the plaintiffs pay the defendant's costs of the proceedings. Catchwords: CIVIL PROCEDURE – summary dismissal – standing – claim for wrongful buy-back and cancellation of shares held as trustee – whether trust a separate legal entity so as to be proper plaintiff in its own right – Corporations Act 2001 (Cth), s 57A

CIVIL PROCEDURE – summary dismissal – standing – claim for wrongful buy-back and cancellation of shares in proprietary company – whether assignable – Corporations Act 2001 (Cth), 1070A(1)

CIVIL PROCEDURE – stay of proceedings – earlier proceedings by corporate trustee stayed because no solicitor acting – whether fresh proceedings by replacement individual trustees an abuse of process Legislation Cited: Civil Procedure Act 2005 (NSW), s 67 Corporations Act 2001 (Cth), ss 57A, 257D, 1070A, 1072H Uniform Civil Procedure Rules 2005 (NSW), rr 7.1, 12.10 Cases Cited: Chapman v Luminis Pty Ltd (No 4) (2001) 123 FCR 62 Commonwealth v Davis Samuel Pty Ltd (No 11) (2017) 316 FLR 159 Linden Gardens Trust Ltd v Lenesta Sludge Disposals Ltd [1994] 1 AC 85 National Australia Bank Ltd v Clowes [2013] NSWCA 179 Reynolds v Reynolds [1977] 2 NSWLR 295 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2013] NSWSC 36 Re Tanamerah Estates [2016] NSWSC 1644 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd [2013] NSWCA 266 Tanamerah Estates Pty Ltd v Tibra Capital Pty Ltd (No 2) [2013] NSWSC 616 Tanamerah Estate Pty Ltd v Tibra Capital Pty Ltd [2016] NSWCA 42 Texts Cited: J D Heydon and M J Leeming, Jacobs' Law of Trusts (LexisNexis Butterworths Australia, 8th ed, 2016) J D Heydon, M J Leeming and P G Turner, Meagher, Gummow and Lehane's Equity: Doctrines and Remedies (LexisNexis Butterworths Australia, 5th ed, 2015) Category: Procedural and other rulings Parties: Catherine Alexis Tydeman (First Plaintiff) James Scott Tydeman (Second Plaintiff) Tibra Capital Pty Limited ACN 120 313 395 (Defendant) Representation: Counsel: M Klooster (Defendant)