In the matter of Akierman Holdings Pty Limited [2015] NSWSC 1395

In the matter of Akierman Holdings Pty Limited [2015] NSWSC 1395

Leave is granted to the plaintiff to bring derivative proceedings on behalf of the company against its director under s 237 of the Corporations Act 2001 (Cth) as the statutory requirements are satisfied, subject to the provision of an indemnity for company costs. An order for inspection of books is not presently necessary but liberty is reserved to apply if needed.

Jurisdiction
Australia
Judgment Date
23 September 2015
Procedural Posture
Derivative Proceedings Application / Application for Leave to Bring Derivative Proceedings; Procedural Ruling
Outcome
Leave granted to the plaintiff to bring derivative proceedings, subject to indemnity; parties to bring in agreed short minutes of order to give effect to the judgment.
Legal Topics
['derivative Actions' "directors' Duties" 'indemnity' 'inspection of Company Documents' 'shareholder Remedies' 'costs Orders']
['corporations Law' 'equity' 'civil Procedure'] ['derivative Actions' "directors' Duties" 'indemnity' 'inspection of Company Documents' 'shareholder Remedies' 'costs Orders']

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Procedural Posture

Derivative Proceedings Application / Application for Leave to Bring Derivative Proceedings; Procedural Ruling

Legal Issues

  1. 1 ['Whether leave should be granted to a shareholder to bring derivative proceedings on behalf of a company against a director under Corporations Act 2001 (Cth) s 237' 'Whether the applicant is acting in good faith' 'Whether the proceedings are in the best interests of the company' 'Whether there is a serious question to be tried' 'Whether appropriate notice has been given to the company' 'Whether to order inspection of company books under s 247A']

Ratio Decidendi

Leave is granted to the plaintiff to bring derivative proceedings on behalf of the company against its director under s 237 of the Corporations Act 2001 (Cth) as the statutory requirements are satisfied, subject to the provision of an indemnity for company costs. An order for inspection of books is not presently necessary but liberty is reserved to apply if needed.

Court Disposition

Leave granted to the plaintiff to bring derivative proceedings, subject to indemnity; parties to bring in agreed short minutes of order to give effect to the judgment.

Orders

  • ['Grant leave to the Plaintiff to bring derivative proceedings under s 237 of the Corporations Act 2001 (Cth), subject to provision of indemnity for company costs.' 'Parties to bring in agreed short minutes of order within 14 days to give effect to this judgment, including as to indemnity.' 'Plaintiff’s costs of...