In the matter of Pure Nature Sydney Pty Ltd [2018] NSWSC 914

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Pure Nature Sydney Pty Ltd [2018] NSWSC 914 Hearing dates: 11 May 2018 and 15 – 18 May 2018 Decision date: 19 June 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The First Defendant is to be wound up and Mr Steven Nicols, of Nicols & Brien, is to be appointed as liquidator of the First Defendant. This order to be stayed to 2pm on 4 July 2018. Catchwords: CORPORATIONS – oppression – application for an order for the purchase of shares by a member of a company under s 233(1)(d) of the Corporations Act 2001 (Cth) – where both parties have engaged in oppressive conduct – whether to grant order for buy-out of one party's share by the other.

CORPORATIONS – winding up – application to wind up company on just and equitable ground under s 461(1)(k) of the Corporations Act – where breakdown of relations and loss of confidence between company's members – whether company should be wound up. Legislation Cited: - Corporations Act 2001 (Cth) ss 9, 182, 183, 232, 233, 461, 466, 467 - Evidence Act 1995 (NSW) s 136 Cases Cited: - Australian Institute of Fitness Pty Ltd v Australian Institute of Fitness (Vic/Tas) Pty Ltd (No 3) [2015] NSWSC 1639; (2015) 109 ACSR 369 - Belgiorno-Zegna v Exben Pty Ltd [2000] NSWSC 884; (2000) 35 ACSR 305 - Duc v PTS Australian Distributor Pty Ltd [2005] NSWSC 98 - Ebrahimi v Westbourne Galleries Ltd [1973] AC 360 - Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd [2001] NSWCA 97; (2001) 37 ACSR 672 - Guerinoni v Argyle Concrete & Quarry Supplies Pty Ltd [2000] WASCA 170; (1999) 34 ACSR 469 - Hillam v Ample Source International Ltd (No 2) [2012] FCAFC 73; (2012) 202 FCR 336 - Morgan v 45 Flers Avenue Pty Ltd (1986) 10 ACLR 692 - Munstermann v Rayward [2017] NSWSC 133 - Nassar v Innovative Precasters Group Pty Ltd [2009] NSWSC 342; (2009) 71 ACSR 343 - Re AJ Roberts Removals & Storage Pty Limited [2017] NSWSC 1054 - Re Amazon Pest Control Pty Ltd [2012] NSWSC 1568 - Re Catombal Investments Pty Ltd [2012] NSWSC 775 - Re Ledir Enterprises Pty Ltd [2013] NSWSC 1332; (2013) 96 ACSR 1 - Re Yenidje Tobacco Company Ltd [1916] 2 Ch 426 - Ruut v Head (1996) 20 ACSR 160 - Tomanovic v Argyle HQ Pty Ltd [2010] NSWSC 152 - Tomanovic v Global Mortgage Equity Corporation Pty Ltd [2011] NSWCA 104; (2011) 84 ACSR 121 - Victory Projects Pty Ltd v AAA Self Storage Pty Ltd [2016] NSWSC 1758 and - Wayde v New South Wales Rugby League Ltd [1985] HCA 68; (1985) 180 CLR 459 - Wondoflex Textiles Ltd [1951] VLR 458 at 465; Ruut v Head (1996) 20 ACSR 160 Category: Principal judgment Parties: Song A Chae (Plaintiff) Pure Nature Sydney Pty Limited (First Defendant) Nan Ae Moon (Second Defendant) Kwang Soon Hong (Third Defendant) Representation: Counsel: L T Livingston (Plaintiff) F P Carnovale (Second and Third Defendants)