Haigh v Haddad

[2025] NSWCA 28

NSW Court of Appeal

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Interrogate

Catchwords

1. Appeal
2. › Leave to appeal
3. › Appeal from summary dismissal
4. › Whether applicants demonstrated issue of principle, question of public importance, or reasonably clear injustice
5. › Supreme Court Act 1970 (NSW), s 101(2)(e), s 101(2)(l)
1. Practice and Procedure
2. › Abuse of process
3. › Re-litigation of claims by related parties
4. › Whether ultimate shareholders may bring claims substantially the same as those brought by their corporate entities in prior proceedings
5. › Whether proceedings unjustifiably oppressive
6. › Uniform Civil Procedure Rules 2005 (NSW), rr 13.4, 14.28
1. Practice and Procedure
2. › Summary dismissal
3. › Reflective loss
4. › Whether loss claimed by ultimate shareholders was merely reflective of loss suffered by corporate entities
5. › Whether reflective loss principle applies to indirect but ultimate shareholders
6. › Whether distinct personal loss of applicants could be discerned

Quick Take

The reflective loss principle bars claims by ultimate (indirect) shareholders where the loss claimed is in substance the same as that suffered by the company, and there is no principled distinction between direct and indirect shareholders for this purpose.