In the matter of Catombal Investments Pty Ltd [2012] NSWSC 775

The first defendant company should be wound up, as it is just and equitable to do so given the breakdown of mutual understanding among family shareholders, the unattainability of the company's intended purpose, and majority shareholders' desire to realise their equity.

Parties: First Plaintiff: Brian John Scott Munro; Second Plaintiff: Graham David Scott Munro; First Defendant: Catombal Investments Pty Ltd; Second Defendant: Royce Gordon Scott Munro
Jurisdiction: Australia
Judgment Date: 26 June 2012
Procedural Posture: Winding Up Application / Final Judgment
Outcome: First defendant is ordered to be wound up; second defendant to pay plaintiffs' costs.
Legal Topics: Winding Up on Just and Equitable Ground, Quasi Partnership, Costs

Corporations Law Equity Winding Up on Just and Equitable Ground Quasi Partnership Costs

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Parties

Brian John Scott Munro

First Plaintiff

Graham David Scott Munro

Second Plaintiff

Catombal Investments Pty Ltd

First Defendant

Royce Gordon Scott Munro

Second Defendant

Procedural Posture

Winding Up Application / Final Judgment

Legal Issues

1 Whether the first defendant company should be wound up on just and equitable ground
2 Whether costs should be paid by the second defendant

Ratio Decidendi

Court Disposition

First defendant is ordered to be wound up; second defendant to pay plaintiffs' costs.

Orders

First defendant Catombal Investments Pty Ltd be wound up.
Christopher Chamberlain of Chamberlains SBR appointed as liquidator.