In the matter of Veraz Enterprises Pty Ltd [2016] NSWSC 1580

In the matter of Veraz Enterprises Pty Ltd [2016] NSWSC 1580

No step taken by the late Mr Venceslav Zarev had the effect of transferring any share held by him in Veraz Enterprises Pty Ltd to either Cathy Spralja or Betty Mateski, as the necessary formalities and delivery of proper instruments of transfer were not completed, rendering both the transfers to Cathy and Betty, and any subsequent transfer to Vivo Enterprises Pty Ltd void and of no effect.

Jurisdiction
Australia
Judgment Date
08 November 2016
Procedural Posture
Principal Judgment / Final Decision
Outcome
Declarations granted as to ineffective transfer of shares; no order as to costs; parties to pay their own costs.
Legal Topics
['valid Transfer of Shares' 'gifts Inter Vivos' 'shareholding in Unlisted Company']
['equity' 'corporations'] ['valid Transfer of Shares' 'gifts Inter Vivos' 'shareholding in Unlisted Company']

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Procedural Posture

Principal Judgment / Final Decision

Legal Issues

  1. 1 ['Whether actions taken by Venceslav Zarev were effective to transfer his shares in Veraz Enterprises Pty Ltd' 'Whether purported share transfers to Cathy Spralja and Betty Mateski were valid' 'Effectiveness of subsequent purported transfers to Vivo Enterprises Pty Ltd']

Ratio Decidendi

No step taken by the late Mr Venceslav Zarev had the effect of transferring any share held by him in Veraz Enterprises Pty Ltd to either Cathy Spralja or Betty Mateski, as the necessary formalities and delivery of proper instruments of transfer were not completed, rendering both the transfers to Cathy and Betty, and any subsequent transfer to Vivo Enterprises Pty Ltd void and of no effect.

Court Disposition

Declarations granted as to ineffective transfer of shares; no order as to costs; parties to pay their own costs.

Orders

  • ['That no step taken by the late Mr Venceslav Zarev had the effect of transferring any share held by him in Veraz Enterprises Pty Ltd to either of Cathy Spralja or Betty Mateski.' 'That the late Mr Zarev was, at the date of his death, on 14 June 2011, the holder of two ordinary shares in Veraz Enterprises Pty Ltd.'...