Australian Mortgage & Finance Company Pty Ltd & Ors v Rome Euro Windows Pty Ltd [2014] NSWSC 996

CORPORATIONS - membership, rights and remedies - derivative action - application for grant of leave by shareholders to commence and defend proceedings in name of relevant company under Corporations Act 2001 (Cth) s 237 - whether it is probable that company will not bring or defend the proceedings - whether applicants are acting in good faith in bringing or defending proceedings - whether in the best interests of company that applicants be granted leave - whether proposed proceedings involve serious questions to be tried - whether leave should be on terms that company be indemnified from costs - whether appropriate notice has been provided to company. 

EQUITY - equitable remedies - application for variation of freezing orders - where there have been subsequent variations to initial freezing order - where no additional material is relied upon by defendants in application for variation - where relevant monies are held by relevant defendant partly as agent for company - whether basis for further variation of freezing orders has been established - whether proposed variation accords with interests of justice.

Corporations Act 2001 (Cth) ss 180, 181, 182, 183, 237, 237(2), 237(2)(a), 237(2)(b), 237(2)(c), 237(2)(d), 237(2)(e)

Acted for oppressed shareholders, leading Bernard Lloyd of counsel, instructed by Aitken Lawyers.