Recent Cases

Mount Gilead Pty Ltd v Macarthur-Stanham (as executor of the Estate of the late Lee Macarthur-Onslow) [2023] NSWCA 37 (07 March 2023) (Bell CJ, Ward P and White JA)


Catchwords:


CORPORATIONS – statutory derivative action – application to bring proceedings on behalf of company – where leave sought by officer or former officer of company – whether former officer acting in good faith – whether a serious question to be tried in circumstances where party seeking leave to proceed on behalf of the company against former director had herself entered into a Deed of Settlement shortly prior to the making of the application – whether the Deed of Settlement released some of the claims sought to be brought on behalf of the company – whether the party seeking leave to proceed had demonstrated a seriously arguable case that the company had suffered loss or damage and that it was in the best interests of the company to grant leave pursuant to s 236 of the Corporations Act