Li v Ye (No 2) [2024] NSWSC 1421

Li v Ye (No 2) [2024] NSWSC 1421

Given the plaintiffs' failure on the primary oppression claims and the winding up of the relevant companies, which rendered any subsidiary money claims of minimal value, plaintiffs should pay the defendants' costs of the proceedings.

Parties
First Plaintiff: Xuxu Li; Second Plaintiff: Kevin Ross Waters-Marsh; Third Plaintiff: Xiaosi Chaney Qian; Fourth Plaintiff: Mana Assets Management Pty Ltd; Fifth Plaintiff: XCQ Holdings Pty Ltd; Sixth Plaintiff: Phoenix Group Australia Pty Ltd; First Defendant: Feng Ye; Second Defendant: Thomas Gem Stone Pty Ltd in its own right and in its capacity as trustee of the Ye Family Trust (ABN 39 218 802 573); Third Defendant: Shield Formply Australia Pty Ltd; Fourth Defendant: Shield Resources Pty Ltd; Fifth Defendant: Shield Holdings Australia Pty Ltd; Sixth Defendant: Shield Holdings South Australia Pty Ltd; Seventh Defendant: Shield Hardwood Pty Ltd; Eighth Defendant: Shield Intermodal Pty Ltd; Ninth Defendant: Shield Equipment Qld Pty Ltd; Tenth Defendant: Shield Timber SA Pty Ltd; Eleventh Defendant: Shield Biomass Energy Pty Ltd; Twelfth Defendant: Shield Equipment Pty Ltd; Thirteenth Defendant: Shield Construction Material Group Pty Ltd; Fourteenth Defendant: Oz Plantation and Hewer Pty Ltd
Jurisdiction
Australia
Judgment Date
08 November 2024
Procedural Posture
Equity Commercial List / Post Judgment (costs Determination)
Outcome
Proceedings dismissed, plaintiffs to pay the defendants' costs.
Legal Topics
Costs, Oppression Proceedings, Winding Up
Equity Company Law Costs Oppression Proceedings Winding Up

Case Brief

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Parties

Xuxu Li

First Plaintiff

Kevin Ross Waters-Marsh

Second Plaintiff

Xiaosi Chaney Qian

Third Plaintiff

Mana Assets Management Pty Ltd

Fourth Plaintiff

XCQ Holdings Pty Ltd

Fifth Plaintiff

Phoenix Group Australia Pty Ltd

Sixth Plaintiff

Feng Ye

First Defendant

Thomas Gem Stone Pty Ltd in its own right and in its capacity as trustee of the Ye Family Trust (ABN 39 218 802 573)

Second Defendant

Shield Formply Australia Pty Ltd

Third Defendant

Shield Resources Pty Ltd

Fourth Defendant

Shield Holdings Australia Pty Ltd

Fifth Defendant

Shield Holdings South Australia Pty Ltd

Sixth Defendant

Shield Hardwood Pty Ltd

Seventh Defendant

Shield Intermodal Pty Ltd

Eighth Defendant

Shield Equipment Qld Pty Ltd

Ninth Defendant

Shield Timber SA Pty Ltd

Tenth Defendant

Shield Biomass Energy Pty Ltd

Eleventh Defendant

Shield Equipment Pty Ltd

Twelfth Defendant

Shield Construction Material Group Pty Ltd

Thirteenth Defendant

Oz Plantation and Hewer Pty Ltd

Fourteenth Defendant

Procedural Posture

Equity Commercial List / Post Judgment (costs Determination)

Legal Issues

  1. 1 Whether plaintiffs should pay the defendants' costs after failing in the primary relief sought, save for certain money claims of little value due to company liquidation

Ratio Decidendi

Given the plaintiffs' failure on the primary oppression claims and the winding up of the relevant companies, which rendered any subsidiary money claims of minimal value, plaintiffs should pay the defendants' costs of the proceedings.

Court Disposition

Proceedings dismissed, plaintiffs to pay the defendants' costs.

Orders

  • The Amended Summons filed 29 May 2024 is dismissed.
  • The plaintiffs pay the defendants' costs, as agreed or assessed, on an ordinary basis.