Kirby v Centro Properties Limited

In Kirby v Centro Properties Limited, the dispute centred around the propriety of adding PricewaterhouseCoopers (PwC) as a respondent in proceedings against Centro Properties Limited, with the court examining whether PwC could be joined as a party in the proceedings. The court was tasked with determining whether PwC could be added as a respondent by the Vlachos applicants, as well as considering the joinder of Nicholas Stott as an applicant and PwC as a respondent in the CER proceeding and the CER and CNP proceedings. The legal issues involved the applicability of the requirement for all applicants and represented parties to have a claim against all respondents, as established by the Full Court in Philip Morris. Specifically, the court had to decide whether the applicants had a valid claim against PwC, despite not having made further purchases of securities.

The court found that the requirement for all applicants and represented parties to have a claim against all respondents was applicable. It was determined that any applicant or Group Member who acquired CER securities or CNP securities between 5 April 2007 and 7 or 9 August 2007, and did not subsequently purchase more securities, did not have a claim against PwC. This was based on the reasoning that the applicants did not meet the criteria for joining PwC as a respondent under the established legal framework. Consequently, the motions to add PwC as a respondent in the Vlachos proceeding and to join Nicholas Stott as an applicant and PwC as a respondent in the CER proceeding were refused. However, leave was granted to join PwC as a respondent in the CNP and CER proceedings, with amendments to the statements of claim to include appropriate allegations against PwC.

The court's decision was that the motions for leave to add Nicholas Stott as an applicant and PwC as a respondent in the CER proceeding, and to add PwC as a respondent in the Vlachos proceeding, would be refused. Leave was granted to join PwC as a respondent in the CNP and CER proceedings, with amendments to the statements of claim to include appropriate allegations against PwC. The costs of all parties of and incidental to each motion were reserved for later determination.