15 May 2006
R NEEDHAM V EBT WORLDWIDE LTD AND ORS HC AK CIV 2005-404-001919
- Citation
- openlaw-b431d969_0746_4cd3_9db2_cf1b427aad02.pdf
- Court
- High Court
Leave granted to issue derivative proceedings in the name of EBT against the second respondent (Darby), the third respondent (IPS) and the fifth respondent (Cummins-White) because there were arguable prima facie claims of diversion of corporate opportunities and of knowing benefit/assistance, the applicant agreed to underwrite costs thereby addressing the cost/recovery imbalance, and there was no adequate alternative remedy likely to be pursued in liquidation; no leave granted against the fourth respondent (Henry) due to insufficient material to establish dishonest assistance.