Archives for December 2013

Drag along rights enforceable

The decision in  William McCausland v Surfing Hardware International Holdings Pty Ltd ACN 090 252 752 [2013] NSWSC 902 (9 July 2013) is a reminder that Drag Along clauses in shareholders agreements are enforceable – if used appropriately.

This article highlights the extent of the issues and the complexity of factors which can affect the legal position of the parties in such situations.   In circumstances such as this a plaintiff will please multiple causes of action.

The judgement  of Slattery J was 402 pages of text containing some 1138 numbered paragraphs and graphics.  The issues were not confined to the drag along clause but involved an interpretation of the nature of the employment contact of the founder, the payment of a success fee and the circumstances surrounding his termination.  To a large extent, the facts outlined in detail by Slattery J’s would appear to make a good basis for a John Grisham novel. [Read more…]

Silicon Beach Brisbane Christmas party 2013

Last night’s Silicon Beach Startup Christmas party was perhaps the best function of the year!  With a purported 280 attendees lending weight to the proposition that Brisbane is arguably Australia’s start-up capital.

The organising committee chose a great venue in the Exchange Hotel.  Seeing the Dundas Lawyers brand the size of a theatre screen in the middle of the Brisbane CBD was a highlight! [Read more…]

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