Background: Witmar Holdings Ltd. (WHL), a family-run real estate company, faced internal conflict among four sibling shareholders: Walter, Antony, Albert, and Silvia. Albert, supported by Silvia, sought liquidation of WHL under section 324(1)(b) of the Business Corporations Act due to ongoing disputes and alleged breakdown of mutual trust.

Legal Arguments/Issues:

• Liquidation Order: Albert and Silvia argued that liquidation was "just and equitable" due to irreconcilable differences and lack of trust.
• Operational Deadlock: Walter and Tony contended there was no operational deadlock and that Albert and Silvia had not exhausted other legal remedies.
• Partnership Analogy: The court assessed whether WHL functioned as a partnership in essence, requiring equitable relief similar to the dissolution of a partnership.
• Reasonable Expectations: The judge considered whether Albert had a reasonable expectation to be involved in WHL's management, given the historical informal and familial approach to governance.

Court's Decision: The appeal was dismissed. The judge ruled that the liquidation was just and equitable, considering the high level of acrimony, the historical operation of WHL, and the breakdown of personal relationships among the siblings.

Costs and Awards: There was no specific mention of the total amount of costs or awards in favor of the successful party within the provided text.