Rothmore Farms Pty Ltd v Belgravia Pty Ltd [1999] FCA 745

FEDERAL COURT OF AUSTRALIA Rothmore Farms Pty Ltd v Belgravia Pty Ltd [1999] FCA 745

TRUSTS – dismissal of trustee – whether trustee's right of indemnity against assets of trusts continues – whether trustee has equitable interest in assets of trust – whether such equitable interest survives when trust vested. TRUSTS – dismissal of trustee – vesting of trust property in new trustee – whether a transfer of property void against the liquidator of dismissed trustee under s 565 of Corporations Law. TRUSTS – vesting of trust in beneficiary – whether trustee's right of indemnity against assets formerly assets of trust continues – whether trustee's equitable interest in assets formerly assets of trust continues – circumstances in which that equitable interest may be lost. TRUSTS – vesting of trust in beneficiary – whether vesting was conveyance of property with intent to defraud creditors. BANKRUPTCY – application of s 121 by reason of s 565 of Corporations Law – nature of evidence necessary to establish purpose of preventing or hindering property from being available to creditors. Bankruptcy Act 1966. (Cth) s 121 Corporations Law s 565 Federal Court of Australia Rules O 35 r 1 Law of Property Act 1936 (SA) s 86 All Benefit Pty Ltd (In Liq) v Registrar General (1993) 11 ACSR 578 considered Allcard v Skinner (1887) 36 Ch D 145 considered Boardman v Phipps [1967] 2 AC 46 considered Coates v McInerney (1992) 6 ACSR 748 considered Commissioner of Australian Federal Police v Cornwell (1990) 98 ALR 677 applied Dowse v Gorton [1891] AC 190 applied Furs Ltd v Tomkies (1936) 54 CLR 583 considered Garuda Indonesia Ltd v Grellman (1992) 35 FCR 515 considered Glegg v Bromley [1912] 3 KB 474 applied Hardoon v. Belilios [1901] A.C. 118 considered In re Diplock; Diplock v Wintle [1948] Ch 465 considered In Re Suco Gold Pty Ltd (1982) 33 SASR 99 applied Jennings v Mather [1902] 1 KB 1 applied Jones v Dunkel (1959) 101 CLR 298 applied Kemtron Industries Pty Ltd v Commissioner of Stamp Duties [1984] 1 Qd R 576 considered Lindsay Petroleum Co v Hurd (1874) LR 5 PC 221 considered Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 applied Re Knapman (1881) 18 Ch D 300 applied Re Pumfrey (1882) 22 Ch D 255 applied Re World Expo Park Pty Ltd (1994) 12 ACSR 759 applied Stott v Milne (1884) 25 Ch D 710 applied Trautwein v Richardson [1946] Argus LR 129 considered Williams v Lloyd 91934) 50 CLR 341 followed