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.

LEGISLATION - 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)

Dominique Hogan-Doran appeared for the successful plaintiff