An assignee of a company's causes of action from a provisional liquidator under s 477(2)(c) of the Corporations Act has standing to pursue equitable claims for breach of fiduciary duty but does not have standing to obtain compensatory relief under s 1317H, which is confined to the corporation itself or an officer. Section 1324(10) damages are unavailable where the jurisdiction to grant an injunction is not sufficiently enlivened because the relevant conduct has ceased. Where a director diverts business to a competing entity in breach of fiduciary duty, equitable compensation may be assessed on a loss of opportunity basis, discounted for the probability that the company could have funded the relevant transactions.
The full text is available to signed-in members, including the 120 later cases that cite this judgment.
2 of the 120 citing cases carry a classified treatment. How each court treated it is available to signed-in members.