Supreme Court - Trial Division

Coeur De Lion Investments Pty Ltd v The President's Club Limited [2017] QSC 006 (16/6286) Mullins J 8 February 2017

Full-text: QSC17-006.pdf

Catchwords

CORPORATIONS – CONSTITUTION AND REPLACEABLE RULES – MEMORANDUM AND ARTICLES OF ASSOCIATION – ARTICLES OF ASSOCIATION – PARTICULAR ARTICLES – CONSTRUCTION – where the company operates a timeshare scheme in respect of villas in a resort – where a member’s entitlement to shares in the company depends on the member being a co-owner of a villa – where the ownership of each villa is divided into quarter interests with each quarter interest entitling the co-owner to occupy the villa for 13 weeks each year – where the article in the company’s constitution deprives a member of voting rights at a general meeting of the company, if the member owes more than $500 per quarter share to the company – whether “quarter share” refers to a quarter of a share in the capital of the company or to a quarter share in the ownership of a villa