Snell v Glatis (No 3)

Snell v Glatis (No 3) concerned an application for the formulation of orders following a finding of oppression against the respondents. The proceeding was heard in the Court of Appeal of New South Wales, with Bell P, Meagher and Leeming JJA presiding.

The primary legal issues before the Court of Appeal were the appropriate formulation of orders to remedy the oppression found, specifically concerning the costs of the liquidators, the applicability of post-judgment interest to the successful plaintiff's entitlement, whether that entitlement should be secured by a charge over certain assets, and how any surplus funds should be distributed in accordance with a shareholders' agreement.

The Court considered the principles governing the formulation of oppression remedies, particularly in relation to securing the successful plaintiff's entitlement and the distribution of surplus funds. The Court addressed the specific question of whether the successful plaintiff's entitlement should be secured by a charge, and how post-judgment interest should be applied. The Court also considered the costs of the liquidators, who had been appointed to facilitate the winding up of the company.

The Court made orders regarding the formulation of the final remedy, including provisions for the costs of the liquidators, the application of post-judgment interest, the securing of the plaintiff's entitlement by a charge, and the distribution of any surplus funds in accordance with the shareholders' agreement.