Ample Source International Limited v Bonython Metals Group Pty Limited; In the Matter of Bonython Metals Group Pty Limited [2010] FCA 1479

Ample Source International Limited v Bonython Metals Group Pty Limited; In the Matter of Bonython Metals Group Pty Limited [2010] FCA 1479

The making of both payments was in breach of duties owed by the second defendant as director; the payments neither benefited nor were properly authorized by the first defendant, and balance of convenience and justice favour protection of the first defendant's funds by restoration and restraining further improper transfer.

Jurisdiction
Australia
Judgment Date
22 December 2010
Procedural Posture
Corporations Interlocutory Application / Interlocutory Orders Following Urgent Application for Injunction
Outcome
Interlocutory orders granted in favour of the plaintiff
Legal Topics
["director's Duties" 'breach of Fiduciary Duty' 'interlocutory Injunction' 'shareholder Remedies' 'restitution of Funds']
['corporations'] ["director's Duties" 'breach of Fiduciary Duty' 'interlocutory Injunction' 'shareholder Remedies' 'restitution of Funds']

Case Brief

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Procedural Posture

Corporations Interlocutory Application / Interlocutory Orders Following Urgent Application for Injunction

Legal Issues

  1. 1 ["Whether payments procured by the second defendant were made as a result of breaches of director's duties owed to the first defendant" "Whether interlocutory orders should be made to protect the first defendant's funds"]

Ratio Decidendi

The making of both payments was in breach of duties owed by the second defendant as director; the payments neither benefited nor were properly authorized by the first defendant, and balance of convenience and justice favour protection of the first defendant's funds by restoration and restraining further improper transfer.

Court Disposition

Interlocutory orders granted in favour of the plaintiff

Orders

  • ['CFM Media Holdings Pty Limited added as third defendant.' 'Second and third defendants to ensure Holman Webb do not pay $175,000 (from first defendant) and $175,000 (from third defendant) to anyone other than the first defendant.' "Plaintiff's nominee permitted to inspect and copy all of first defendant's...