In the matter of Indoor Climate Technologies Pty Ltd [2019] NSWSC 356

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Indoor Climate Technologies Pty Ltd [2019] NSWSC 356 Hearing dates: 13 March 2019 Decision date: 13 March 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order that the Defendant's share register be corrected nunc pro tunc to enter the Plaintiff's name as holder of 246,992 ordinary shares on 30 May 2018. The Defendant pay the Plaintiff's costs on the ordinary basis. Catchwords: CORPORATIONS – application for correction of company's share register – where shares in company offered in lieu of payment for work – where resolution passed to issue shares – where steps taken to record the issue of new shares – whether there is an agreement to issue shares – whether an order should be made to correct the company's share register nunc pro tunc under s 175 of the Corporations Act 2001 (Cth).

COSTS – application for costs on an indemnity basis – where defendant's conduct in defending proceedings is not unreasonable – whether indemnity costs should be ordered. Legislation Cited: - Civil Procedure Act 2005 (NSW) s 98(1)(c) - Corporations Act 2001 (Cth) ss 175, 175(1) - Uniform Civil Procedure Rules 2005 (NSW) rr 42.2, 42.5 Cases Cited: - Cabport Pty Ltd v Marinchek (No 2) [2013] NSWCA 131 - Franklins Pty Ltd v Metcash Trading Ltd [2009] NSWCA 407; (2009) 76 NSWLR 603 - Grant v John Grant and Sons Pty Ltd (1950) 82 CLR 1 - Hamod v New South Wales [2002] FCAFC 97; (2002) 188 ALR 659 - Ingot Capital Investments Pty Ltd v Macquarie Equity Capital Markets Ltd (No 7) [2008] NSWSC 199; (2008) 65 ACSR 324 - Leichhardt Municipal Council v Green [2004] NSWCA 341 - Peninsula Gold Pty Ltd v Sunbeam Victa Holdings Ltd (1996) 20 ACSR 553 - Re Indoor Climate Technologies Pty Ltd; Daher v Indoor Climate Technologies Pty Ltd [2018] NSWSC 1203 - Re Motasea Pty Ltd [2014] NSWSC 69; (2014) 97 ACSR 589 Category: Principal judgment Parties: Paddington Daintrees Pty Ltd (Plaintiff) Indoor Climate Technologies Pty Ltd (Defendant) Representation: Counsel: B Levet (Plaintiff) S Golledge (Defendant)