Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd (No 2) [2017] FCAFC 101

FEDERAL COURT OF AUSTRALIA

Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd (No 2) [2017] FCAFC 101 Appeal from: Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd [2016] FCA 764 Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd (No 2) [2016] FCA 883 Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd (No 3) [2016] FCA 1031

File number: VID 1021 of 2016

Judges: RARES, MURPHY AND DAVIES JJ

Date of judgment: 30 June 2017

Catchwords: TRUSTS AND TRUSTEES – respondent unit holders overpaid by subsequently insolvent trustee – other unit holder and related party entitled to judgment against trustee – whether overpaid unit holders directly liable to each of other unit holder and related party for over distributions necessary to meet trustee's judgment liability to each COSTS – offers of compromise under r 25.14(3) of Federal Court Rules 2011 – whether result at trial, as varied on appeal, more favourable than offer made under r 25.14(3)

Legislation: Corporations Act 2001 (Cth) Federal Court of Australia Act 1976 (Cth) Trade Practices Act 1974 (Cth Federal Court Rules 2011

Cases cited: Alexander v Perpetual Trustees WA Ltd (2004) 216 CLR 109 Baxter v Obacelo Pty Ltd (2001) 205 CLR 635 Colin R Price & Associates Pty Ltd v Four Oaks Pty Ltd [2017] FCAFC 75 Firebird Global Master Fund II Ltd v Republic of Nauru (No 2) (2015) 327 ALR 192 Foots v Southern Cross Mine Management Pty Ltd (2007) 234 CLR 52 Grimaldi v Chameleon Mining NL (No 2) (2012) 200 FCR 296 Henville v Walker (2001) 206 CLR 459 House v The King (1936) 55 CLR 499 Les Laboratoires Servier v Apotex Pty Ltd (2016) 117 IPR 415 Lidden v Composite Buyers Ltd (1996) 67 FCR 560 Winnebago Industries Inc v Knott Investments Pty Ltd (No 4) (2015) 331 ALR 594 Yorkshire Miners' Association v Howden [1905] AC 256 Heydon JD and Leeming MJ, Jacob's Law of Trusts in Australia (7th ed, Butterworths, 2006)