The Court held that share surrender agreements entered into as part of a company title to strata title conversion did not cause shareholders to cease being shareholders immediately upon execution; rather, the process contemplated orderly collective cancellation of shares under s 258B of the Corporations Act (Division 3 of Part 2J.1), not a share buy-back under s 257A or an acquisition by the company of its own shares contrary to s 259A. The Court declined to make further declarations on the limited re-hearing, finding no actual controversy ripe for declaratory relief regarding the precise rights of shareholders after entry into share surrender agreements. The Court also emphasised that unduly lengthy, tendentious written submissions and intemperate oral advocacy do not serve the interests of justice and may undermine a party's case.
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