INDUSTRIAL LAW [678]- Unfair contract- Managing director- Contract required man to invest his own money in enterprise in purchase of shares- At end of enterprise value of shares fallen greatly- Other party made profits from enterprise through collateral businesses- Other party given right to buy back director's shares at fair value- Appropriate to vary contract by ordering buyback to return director at least the sum invested plus reasonable interest. WORDS & PHRASES- "Partnership".
Acts Cited:
Corporations Act 2001, s 233
Industrial Relations Act 1996, ss 105, 106
Case Details
Citation[2004] NSWSC 60
CourtNSWSC
JurisdictionNew South Wales
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