Benjamin Corporation Pty Ltd v Smith Martis Cork &

In the case of Benjamin Corporation Pty Ltd v Smith Martis Cork & Rajan, the plaintiff sought orders under the Corporations Act 2001 (Cth) alleging that the affairs of the first defendant, in which it was a minority shareholder, had been conducted in a manner that was oppressive, unfairly prejudicial, and unfairly discriminatory. The plaintiff sought relief from the court in the form of compensation for being out of pocket and an order for the second defendants to acquire its shares in the first defendant. The legal issues the court was required to decide included whether the plaintiff had been oppressed, unfairly prejudiced, or unfairly discriminated against, and if so, what the appropriate remedy would be. The court found that the plaintiff had been unfairly prejudiced and oppressively treated and ordered that the second defendants acquire the plaintiff's shares in the first defendant at a price fixed by the court, which included a further amount calculated at a rate of 7% per annum from 13 August 2002 to the date of payment. The court also granted the plaintiff liberty to apply for further orders if necessary and dismissed the cross-claim. The second defendants other than the fourth-named second defendant were ordered to pay the plaintiff's costs of the application, and the cross-plaintiffs were ordered to pay the cross-defendants' costs of the cross-claim.