Matter Technology Ltd v Mrakas; Mrakas v Matter Technology Ltd [2018] NSWSC 507

Matter Technology Ltd v Mrakas; Mrakas v Matter Technology Ltd [2018] NSWSC 507

Mr Mrakas, as director and CEO, breached his contractual, statutory, and equitable duties by improperly asserting ownership over Matter's intellectual property and copyright, conducting the Platipus ICO without board consent, and using company resources for personal gain; this constituted serious misconduct justifying summary termination of his employment.

Jurisdiction
Australia
Judgment Date
24 April 2018
Procedural Posture
Principal Judgment / Final Determination
Outcome
Plaintiff’s claims upheld; cross-claim dismissed
Legal Topics
["directors' Duties" 'misuse of Confidential Information' 'serious Misconduct' 'termination of Employment' 'intellectual Property Ownership']
['corporations' 'employment'] ["directors' Duties" 'misuse of Confidential Information' 'serious Misconduct' 'termination of Employment' 'intellectual Property Ownership']

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Procedural Posture

Principal Judgment / Final Determination

Legal Issues

  1. 1 ['Did Mr Mrakas breach his contractual and statutory duties as director and CEO of Matter Technology Ltd?' 'Was the termination of Mr Mrakas’s employment justified by serious misconduct?' 'Was Matter Technology Ltd the proper owner of the intellectual property and copyright in Project Platipus?']

Ratio Decidendi

Mr Mrakas, as director and CEO, breached his contractual, statutory, and equitable duties by improperly asserting ownership over Matter's intellectual property and copyright, conducting the Platipus ICO without board consent, and using company resources for personal gain; this constituted serious misconduct justifying summary termination of his employment.

Court Disposition

Plaintiff’s claims upheld; cross-claim dismissed

Orders

  • ['Declaratory relief granted that Mr Mrakas breached his duties and that Matter was entitled to terminate his employment.' 'Mr Mrakas’s cross-claim for wrongful termination and payment in lieu of notice dismissed.' 'Mr Mrakas’s claim for reimbursement of $6,000 spent in ICO pre-sale dismissed.' 'Relief to be further...