ICRA Rolleston Pty Ltd (ICRA), Rolleston Coal Holdings Pty Ltd (Rolleston) and Sumisho Coal Australia Pty Ltd (Sumisho) were parties to a joint venture agreement under which they owned and operated a coal mine in Queensland. Rolleston appointed the respondents as receivers to ICRA pursuant to its rights under a charge. The receivers entered into a contract to sell ICRA’s interest in the joint venture.
The appellant, ICRA’s sole director, wrote to the respondents asking to inspect the contract. He sought to invoke his right of inspection under s 421(2) of the Corporations Act 2001 (Cth). The respondents disputed his right to do so and refused his request. Accordingly, the appellant applied to Flanagan J for an appropriate order that would require the respondents to permit inspection. Flanagan J dismissed the application and in these proceedings appealed against that refusal.
The appeal was dismissed.
Michael Hodge QC (leading A Langshaw) appeared for the respondent, instructed Arnold Bloch Leibler.
The judgment is published here.