Gambotto & Anor v WCP Limited

This matter concerned an application for special leave to appeal to the High Court of Australia. The applicants, Giancarlo Gambotto and ACMEX Investments (No.4), sought to challenge a decision of the Court of Appeal. The respondents, WCP Limited, were represented by counsel. The core of the dispute revolved around a company article that provided for the compulsory acquisition of shares from dissenting shareholders, a mechanism that had been implemented by the company.

The High Court was required to determine whether to grant special leave to appeal. This involved considering the merits of the applicants' challenge to the validity of the company article, which had been declared valid by the Court of Appeal after an initial declaration of invalidity by a single judge. The proceedings also touched upon the timing of applications for injunctive relief in relation to share transfers that had already been registered pursuant to the disputed article.

The Court granted Mr. Gambotto leave to appear in person. Counsel for the respondents argued that special leave should not be granted, highlighting that the mechanism for compulsory acquisition of shares had already been put in place and that the shares of dissenting shareholders had been registered in the name of the company. The respondents contended that if the appeal were to succeed, it would necessitate a significant undoing of these completed transactions.