Owston Nominees No. 2 Pty Ltd & Anor v Branir Pty Ltd & Ors [1995] FCA 951

Owston Nominees No. 2 Pty Ltd & Anor v Branir Pty Ltd & Ors [1995] FCA 951

The applicants, as unpaid minority shareholders, have not adduced sufficient evidence to show the directors acted in disregard of their duties to the company or its shareholders so as to justify an interlocutory injunction restraining the lease of the property. No substantial case is shown for final relief and the balance of convenience does not support continuing the injunction.

Jurisdiction
Australia
Judgment Date
31 July 1995
Procedural Posture
Application for Interlocutory Injunction / Hearing and Determination of Interlocutory Relief
Outcome
application for interlocutory injunction dismissed
Legal Topics
['interlocutory Injunction' "directors' Duties" 'minority Shareholder Rights' 'leasing of Company Property' 'balance of Convenience']
['corporations Law' 'equity'] ['interlocutory Injunction' "directors' Duties" 'minority Shareholder Rights' 'leasing of Company Property' 'balance of Convenience']

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Procedural Posture

Application for Interlocutory Injunction / Hearing and Determination of Interlocutory Relief

Legal Issues

  1. 1 ['Whether there is a substantial case to be tried justifying an interlocutory injunction to restrain leasing of the property.' 'Whether the balance of convenience favours granting or withholding the injunction.']

Ratio Decidendi

The applicants, as unpaid minority shareholders, have not adduced sufficient evidence to show the directors acted in disregard of their duties to the company or its shareholders so as to justify an interlocutory injunction restraining the lease of the property. No substantial case is shown for final relief and the balance of convenience does not support continuing the injunction.

Court Disposition

application for interlocutory injunction dismissed

Orders

  • ['The application for interlocutory injunction number 1 is dismissed.' "The applicants are to pay the respondents' costs to be assessed."]