Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Apostolou v VA Corporation Aust Pty Ltd [2010] FCA 64 Citation: Apostolou v VA Corporation Aust Pty Ltd [2010] FCA 64
Parties: VASILIKI APOSTOLOU (AS TRUSTEE OF THE VASILIOU FAMILY TRUST) and ANDREW VASILIOU (AS TRUSTEE OF THE VA UNIT TRUST) v VA CORPORATION OF AUST PTY LTD, DAVID CHARLES QUIN AND CLYDE PETER WHITE (AS JOINT LIQUIDATORS OF VA CORPORATION OF AUST PTY LTD), PERPETUAL TRUSTEE COMPANY LIMITED, CHALLENGER MANAGED INVESTMENTS LIMITED and REGISTRAR OF TITLES
File number: VID 124 of 2008
Judge: FINKELSTEIN J
Date of judgment: 11 February 2010
Catchwords: MORTGAGES – exercise of mortgagee's power of sale – whether a breach of mortgagee's duties where a property properly marketed and auctioned but is sold for less than its market value TRUSTS AND TRUSTEES – right of indemnity – nature of – power of sale – whether trustee should seek judicial sale where trustee has express power to sell – whether lien claimed against new trustee CORPORATIONS – liquidation – corporate trustee – whether a liquidator has power to sell trust property CORPORATIONS – winding up – corporation wound up in insolvency but actually solvent – duties of liquidators
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