NAB shareholder takes bank to court in a bid to secure confidential papers

When long-term NAB shareholder Diana Beere inherited the shares from her mother 10 years ago, she didn’t think much of it. Now, she is taking the country’s third-largest bank to court.

“That would not only be unethical, but also a financial risk, and therefore a risk to me as a shareholder and a risk to my daughter and granddaughter as future shareholders.” Equity Generation Lawyers senior associate Sophia Ferguson, who is representing Beere, said section 247A of the Corporations Act allowed shareholders to ask the court to make orders to access internal documents that go to concerns about a company’s management, as long the shareholder is acting in good faith and for a proper purpose.

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