PRACTICE AND PROCEDURE - summary dismissal - shareholders commenced proceedings against target of successful compulsory takeover bid seeking relief under s 661E of the Corporations Act 2001 (Cth) - where s 661E allows minority shareholder subject to compulsory acquisition notice to apply to Court for an order that shares not be compulsorily acquired - held that causes of action in both proceedings under s 661E have no reasonable prospects of success against defendant - defendant's applications for summary dismissal granted with costs
PRACTICE AND PROCEDURE - leave to amend - where one shareholder sought leave to amend - held that proposed causes of action do not disclose a reasonable cause of action, have no reasonable prospects of success or are embarrassing - application for leave dismissed with costs
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