In Oswal v Burrup Holdings Ltd (No 2) [2012] FCA 1187 the Federal Court of Australia has found that company director Pankaj Oswal, who allegedly disclosed company information to a newspaper after being granted orders for inspection, is not guilty of contempt. The orders for inspection under Oswal v Burrup Holdings Limited [2011] FCA 609;(2011) 281 ALR 432 were granted subject to a condition which required the director to sign a confidentiality undertaking.
Barker J found that a confidentiality undertaking signed by the director had no effect as it had not been filed in court. The Court further found that there could not be a breach of implied undertaking where the director was merely vindicating his rights as a director by the orders in question.
The finding accompanies a cluster of judgments such as Commonwealth Bank of Australia v Oswal [2012] FCA 772 and Burrup Fertilisers Pty Ltd (Receivers and Managers Appointed) v Oswal (No 6) [2012] FCA 590.
One party in the latter judgment is Comical Ali Militant Vegetarian Pty Ltd. So much for Chemical Ali!
