CORPORATIONS — breach of fiduciary duties or statutory duties pursuant to ss 180, 181 and 182 Corporations Act 2001 (Cth) — director of company set up competing company while still director and employee of first company — director appropriated company name of first and goodwill associated with previous trading history of first company (though not registered trade mark, which was at all relevant times property of director or family trust company) — HELD — breach of director's duties and knowing assistance by second and third defendants — CORPORATIONS — oppression — s 232 Corporations Act 2001 (Cth) — whether conduct engaged in by the first defendant in setting up the competing company and diverting the business of the first company to the new company was oppressive — HELD — conduct of "affairs of the company" by the first defendant objectively unfair and oppressive — REMEDIES — equitable compensation — valuation of shares of company — where intangible assets of the company include value associated with a trade mark used but not owned by the company and the value associated with the business name — HELD — value of shares to be calculated according to value of Net Operating Assets plus an amount attributable to goodwill (if any) independent of the trade mark
Case Details
Citation[2012] NSWSC 261
CourtNSWSC
JurisdictionNew South Wales
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