Roach & 1 Ors v Winnote P/L (in Liq) & 3 Ors [2001] NSWSC 822

Roach & 1 Ors v Winnote P/L (in Liq) & 3 Ors [2001] NSWSC 822

The statutory derivative action under Part 2F.1A of the Corporations Act is available in the context of a company in liquidation, and there is no impediment to granting the orders sought in this case. If not, the general law and statutory provisions ss477(6) and 511 provide alternative avenues for relief.

Jurisdiction
Australia
Judgment Date
10 September 2001
Procedural Posture
Derivative Action / Judgment
Outcome
Derivative action allowed.
Legal Topics
['statutory Derivative Action' 'company in Liquidation' 'powers of Liquidators' 'rule in Foss V Harbottle']
['corporations Law' 'equity'] ['statutory Derivative Action' 'company in Liquidation' 'powers of Liquidators' 'rule in Foss V Harbottle']

Case Brief

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Procedural Posture

Derivative Action / Judgment

Legal Issues

  1. 1 ['Whether a statutory derivative action under Part 2F.1A of the Corporations Act is available where the company is in liquidation' 'Whether the general law exceptions to the rule in Foss v Harbottle apply in a liquidation context']

Ratio Decidendi

The statutory derivative action under Part 2F.1A of the Corporations Act is available in the context of a company in liquidation, and there is no impediment to granting the orders sought in this case. If not, the general law and statutory provisions ss477(6) and 511 provide alternative avenues for relief.

Court Disposition

Derivative action allowed.

Orders

  • ['Leave is granted to bring the derivative action.' 'Orders are made drawing upon all powers thereunto enabling, including under general law and ss477(6) and 511.' 'Note that undertakings were given.']