PRACTICE AND PROCEDURE – application by the plaintiff for freezing and ancillary orders concerning the assets of the second defendant and third parties – plaintiff contends that the second defendant: (1) wrongly failed to transfer to the plaintiff the issued shares in the first defendant; (2) diverted funds belonging to the first defendant to the second defendant and to the third parties – s 1323 of the Corporations Act 2001 (Cth) not available as no action under the Act – risk of frustration of the Court’s processes ameliorated by the appointment of an administrator to the first defendant – application dismissed
PRACTICE AND PROCEDURE – application by the plaintiff for an order under s 1324(2) of the Act requiring the second defendant to provide the plaintiff with access to the books of the first defendant – discretion not enlivened as the second defendant is not required by the Act to provide such access – in any event inappropriate to order the second defendant to provide such access when she is obliged to deliver all such books in her possession to the administrator – application dismissed
Related cases – freezing orders
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UFC Enterprise Morley Pty Ltd v UFC Enterprise Northbridge Pty Ltd [2024] FCA 1396
PRACTICE AND PROCEDURE – urgent ex parte application for freezing orders under r 7.32 of the Federal Court Rules 2011 (Cth) – application before start of proceeding under r 7.01 – consideration of applicable principles – good arguable case for breaches of statutory and fiduciary duties and equitable compensation – danger of frustrating prospective judgment…
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Haycraft v AF1 Services Pty Ltd [2023] FCA 774
CORPORATIONS – application for winding up of a company on just and equitable grounds under s 461(1)(k) of the Corporations Act 2001 (Cth) – where directors of the company disagree on aspects of the conduct of the business – where relevant business is profitable, solvent and has many employees – applicable principles to just and…
