Tarleton & Peters Pty Limited (in liq) v Peters [2021] FCA 749

Tarleton & Peters Pty Limited (in liq) v Peters [2021] FCA 749

Leave is granted to the third defendant, N & M Investments/Properties Pty Limited, to bring and maintain in the name of the first plaintiff, Tarleton & Peters Pty Limited (in liq), certain legal actions including challenging tax assessments and seeking review of an FOI decision, not limited to the terms of drafts provided. Indemnities from both N & M and Mr Peters are required to protect the company and liquidator with costs of derivative actions, and liberty to apply is preserved. There is no order as to costs.

Jurisdiction
Australia
Judgment Date
02 July 2021
Procedural Posture
Corporations – Derivative Action Application / Interlocutory Application – Determination of Leave to Bring Derivative Action
Outcome
Leave granted to N & M Investments/Properties Pty Limited (third defendant) to take certain derivative actions in name of first plaintiff; orders made concerning indemnity, notification, conduct, and reporting; proceedings stayed; no order as to costs of the interlocutory process.
Legal Topics
['derivative Actions' 'company in Liquidation' 'objections to Tax Assessments' 'freedom of Information' 'indemnity for Costs']
['corporations Law' 'insolvency'] ['derivative Actions' 'company in Liquidation' 'objections to Tax Assessments' 'freedom of Information' 'indemnity for Costs']

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Procedural Posture

Corporations – Derivative Action Application / Interlocutory Application – Determination of Leave to Bring Derivative Action

Legal Issues

  1. 1 ['Whether leave should be granted to a creditor to bring a derivative action on behalf of a company in liquidation' 'Whether leave should be confined to the terms of draft applications provided' 'Sufficiency and terms of indemnity for costs for derivative actions' 'Effect on liquidation and interests of creditors']

Ratio Decidendi

Leave is granted to the third defendant, N & M Investments/Properties Pty Limited, to bring and maintain in the name of the first plaintiff, Tarleton & Peters Pty Limited (in liq), certain legal actions including challenging tax assessments and seeking review of an FOI decision, not limited to the terms of drafts provided. Indemnities from both N & M and Mr Peters are required to protect the company and liquidator with costs of derivative actions, and liberty to apply is preserved. There is no order as to costs.

Court Disposition

Leave granted to N & M Investments/Properties Pty Limited (third defendant) to take certain derivative actions in name of first plaintiff; orders made concerning indemnity, notification, conduct, and reporting; proceedings stayed; no order as to costs of the interlocutory process.

Orders

  • ['Leave to the third defendant to bring and maintain rights of objection or legal actions as detailed regarding ATO FOI decision and tax assessments.' 'Third defendant to pursue actions efficiently, notify and report to second plaintiff, and provide opportunity to object before further applications.' 'Third...