In the matter of Cromwell Property Securities Limited in its capacity as responsible entity of the Cromwell Diversified Property Trust and Cromwell Corporation Limited; In the matter of Cromwell Corporation Limited [2019] NSWSC 1608

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Cromwell Property Securities Limited in its capacity as responsible entity of the Cromwell Diversified Property Trust and Cromwell Corporation Limited; In the matter of Cromwell Corporation Limited [2019] NSWSC 1608 Hearing dates: 18 November 2019 Date of orders: 19 November 2019 Decision date: 19 November 2019 Jurisdiction: Equity - Corporations List Before: Rees J Decision: Judgment for Cromwell Property Group: see [42]–[43] Catchwords: CORPORATIONS — Shareholders' rights and remedies — Access to books and records — Shareholder sought access to completed proxy forms in advance of AGM — Sought to influence votes to assist the election of their candidate — Whether "books and records of the company" for the purposes of s 247A — Section does not apply to books in the company's possession but not belonging to it — Proxy forms are not books "of the company" — Whether common law right of access to proxy forms — Application of Edman v Ross (1922) 22 SR (NSW) 351 — Whether "necessary with reference to some specific dispute or question in which the shareholder is interested" — Inspection unnecessary having regard to the rights granted by the Corporations Act — Judgment for the defendant. Legislation Cited: Corporations Act 2001 (Cth), ss 177, 247A, 249P, 431, 530A, 530B, Ch 6, s 672DA. Corporations Law, s 319 Cases Cited: Areva NC (Australia Pty Ltd v Summit Resources (Australia) Pty Ltd [No 2] [2008] WASC 10 Armstrong v Landmark Corporation Ltd [1967] 1 NSWR 13 Berlei Hestia (NZ) Limited v Fernyhough [1980] 2 NZLR 150 Bisan Ltd v Cellante (2002) 43 ACSR 322; [2002] VSC 430 Boulus v Carter; Re Tarbs World TV Australia Pty Limited (2005) 220 ALR 572; [2005] NSWSC 891 Burn v London and South Wales Coal Co (1890) 7 TLR 118 Burns Philp Trust Co Pty Ltd v Kwikasair Freightlines Ltd [1964] NSWR 63 Caratti v Harris & Kirman as Joint Liquidators of GH1 Pty Ltd [2019] FCAFC 124 Cescastle Pty Limited v Renak Holdings Limited (1991) 6 ACSR 115 Conway v Petronious Clothing Co Limited [1978] 1 WLR 72 Edman v Ross (1922) 22 SR (NSW) 351 Engel v Natural Biodiesel Ltd (2015) 245 FCR 436; [2015] FCA 1114 Hall v Sherman (2001) 40 ACSR 40; [2001] NSWSC 810 In the matter of Centro Properties Ltd (2011) 87 ACSR 131; [2011] NSWSC 1171 In the matter of Jervois Mining Ltd [2009] FCA 316 Kriewald TV Independent Direction Limited (1996) 14 ACLC 73 Molomby v Whitehead (1985) 7 FCR 541 Mutter v Eastern and Midlands Railway Co (1888) 38 Ch D 92 Oswal v Burrup Fertilisers Pty Ltd (2013) 295 ALR 708; [2013] FCAFC 9 Pine Rivers, Caboolture and Redcliffe Group Training Scheme Inc v Group Training Association Queensland & Northern Territory Inc [2015] 1 Qd R 542; [2013] QCA 358 Re Claremont Petroleum NL [1990] 2 Qd R 31; (1989) 1 ACSR 504 Re Jet Corp of Australia Pty Ltd (in liq); Hunter v Touche Ross & Co [1985] VR 716; (1985) 9 ACLR 641 Rowland v Meudon Pty Ltd (2008) 66 ACSR 83; [2008] NSWSC 381 South Australia v Barrett (1995) 64 SASR 73; (1995) 13 ACLC 1,369 Sun Hung Kai Investments Services Limited v Metals X Limited [2019] FCA 1673 The King v Merchant Tailors' Company (1831) 109 ER 1086; 2 B & Ad 115 Wentworth v De Montford (1988) 15 NSWLR 348 Category: Principal judgment Parties: In proceedings no. 358438 of 2019: Cromwell Property Securities Limited in its capacity as responsible entity of the Cromwell Diversified Property Trust (First Plaintiff) Cromwell Corporation Limited (Second Plaintiff)