Oswal v Burrup Holdings Limited [2011] FCA 609

Oswal v Burrup Holdings Limited [2011] FCA 609

The applicant is entitled, as a director, to inspect certain financial records and other documents of BFPL under s 290(2) and the general law, and such inspection may be conducted by nominated agents under court order. The court imposed limitations based on whether the documents are financial records and whether inspection would impede the receivers’ ability to realise the company’s assets. Broad or redundant inspection was refused where discovery was already being made in other proceedings, or where inspection would risk receivers’ core duties. Separate statutory provisions (ss 198F, 290(2), 421) have distinct scope and requirements for agent inspection rights; s 198F is a personal right...

Jurisdiction
Australia
Judgment Date
03 June 2011
Procedural Posture
Application / Judgment on Application for Inspection of Company Books and Records
Outcome
Orders granted in part: Applicant granted inspection and copying of defined categories of BFPL's documents, by nominated agents, subject to conditions. Requests for broader categories or documents already being disclosed in other proceedings declined. Costs partially awarded against the second respondent.
Legal Topics
["director's Right of Inspection" 'receivership' 'statutory Rights Under Corporations Act' 'general Law Rights of Directors' 'financial Records Access']
['corporations Law'] ["director's Right of Inspection" 'receivership' 'statutory Rights Under Corporations Act' 'general Law Rights of Directors' 'financial Records Access']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application / Judgment on Application for Inspection of Company Books and Records

Legal Issues

  1. 1 ['Whether the applicant as a director is entitled to inspect and copy books and records of the company under general law and under ss 198F, 290(2), 421, and 1303 of the Corporations Act 2001 (Cth)' 'Whether inspection may be made by agents on behalf of the director' 'Whether granting access would impede receivers in their duties' "What categories of documents constitute 'financial records'"]

Ratio Decidendi

The applicant is entitled, as a director, to inspect certain financial records and other documents of BFPL under s 290(2) and the general law, and such inspection may be conducted by nominated agents under court order. The court imposed limitations based on whether the documents are financial records and whether inspection would impede the receivers’ ability to realise the company’s assets. Broad or redundant inspection was refused where discovery was already being made in other proceedings, or where inspection would risk receivers’ core duties. Separate statutory provisions (ss 198F, 290(2), 421) have distinct scope and requirements for agent inspection rights; s 198F is a personal right...

Court Disposition

Orders granted in part: Applicant granted inspection and copying of defined categories of BFPL's documents, by nominated agents, subject to conditions. Requests for broader categories or documents already being disclosed in other proceedings declined. Costs partially awarded against the second respondent.

Orders

  • ['Applicant (by himself or by nominated agents from BDO and Murcia Pestell Hillard) authorised to inspect and copy (a) general ledger and, as requested thereafter, primary accounting records for payments made by or on behalf of respondents since 17 December 2010; (b) contracts for purchases or expenditure greater...