Idoport Pty Ltd v National Australia Bank [2] [1999] NSWSC 940

Idoport Pty Ltd v National Australia Bank [2] [1999] NSWSC 940

Because the plaintiffs had established serious questions to be tried, including claims for equitable relief and equitable compensation for alleged breaches of fiduciary duty, and because the balance of convenience was heavily in favour of preserving records without granting more severe interlocutory injunctive relief, the Court had jurisdiction and a juridical basis to order specified defendants to keep a record of profits from identified services, projects and products. The unusual nature of the interlocutory application, the plaintiffs' success on serious question issues and in obtaining an account order, and the need for final determination of the parties' rights justified ordering...

Jurisdiction
Australia
Judgment Date
27 August 1999
Procedural Posture
Equity Division, Commercial List Proceeding Involving Interlocutory Injunctive Relief and Equitable Relief / Determination of Issues Reserved After Interlocutory Hearing, Including Keeping of Accounts, Costs, and Directions
Outcome
Leave to further amend the notice of motion was granted; an interlocutory order requiring records of profits to be kept was made subject to the usual undertaking as to damages and suspended for 14 days; the motion was otherwise dismissed; costs were ordered to be costs in the cause.
Legal Topics
['interlocutory Injunctions' 'keeping of Accounts' 'account of Profits' 'balance of Convenience' 'fiduciary Duty' 'equitable Compensation' 'costs in the Cause']
['equity' 'civil Procedure' 'commercial Law'] ['interlocutory Injunctions' 'keeping of Accounts' 'account of Profits' 'balance of Convenience' 'fiduciary Duty' 'equitable Compensation' 'costs in the Cause']

Case Brief

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Procedural Posture

Equity Division, Commercial List Proceeding Involving Interlocutory Injunctive Relief and Equitable Relief / Determination of Issues Reserved After Interlocutory Hearing, Including Keeping of Accounts, Costs, and Directions

Legal Issues

  1. 1 ['Whether the Court had jurisdiction or a juridical basis to order the defendants to keep accounts or records of profits as an alternative to interlocutory injunctive relief.' 'Whether the proposed order for keeping accounts could be framed with sufficient specificity to permit enforcement.' 'What order should be made for the costs of the interlocutory application.']

Ratio Decidendi

Because the plaintiffs had established serious questions to be tried, including claims for equitable relief and equitable compensation for alleged breaches of fiduciary duty, and because the balance of convenience was heavily in favour of preserving records without granting more severe interlocutory injunctive relief, the Court had jurisdiction and a juridical basis to order specified defendants to keep a record of profits from identified services, projects and products. The unusual nature of the interlocutory application, the plaintiffs' success on serious question issues and in obtaining an account order, and the need for final determination of the parties' rights justified ordering...

Court Disposition

Leave to further amend the notice of motion was granted; an interlocutory order requiring records of profits to be kept was made subject to the usual undertaking as to damages and suspended for 14 days; the motion was otherwise dismissed; costs were ordered to be costs in the cause.

Orders

  • ['Leave be granted to the plaintiffs to file and serve a further amended notice of motion to embrace a claim to an order in terms of order 3.' 'Upon the plaintiffs by their counsel giving to the Court the usual undertaking as to damages, until the determination of these proceedings or further order, National Markets...