Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Plaza Carpark Pty Ltd v Chor Shing Ma [2010] FCA 449 Citation: Plaza Carpark Pty Ltd v Chor Shing Ma [2010] FCA 449
Parties: PLAZA CARPARK PTY LTD (ACN 075 613 526) IN ITS OWN CAPACITY AND AS TRUSTEE OF THE PLAZA HOTEL CAR PARK UNIT TRUST, KAM TAI (AUST) PTY LTD AS TRUSTEE OF THE KAM TAI FAMILY TRUST NO.3, AUSTRALIAN SUN WAH PTY LTD AS TRUSTEE OF THE MH YIP SETTLEMENT NO.2, AUSTRALIAN SUN WAH PTY LTD AS TRUSTEE OF THE Y K NGAN SETTLEMENT NO.2, JU-JEN PTY LTD AS TRUSTEE OF THE FENG LIN CHENG FAMILY TRUST, BRIGHT (AUST) PTY LTD AS TRUSTEE OF THE SO PUI HIU TRUST NO.2, AUSTRALIA SUN WAH PTY LTD AS TRUSTEE OF THE WONG SUN WEN SETTLEMENT NO.3 and YUNG YUAN CO PTY LTD AS TRUSTEE OF THE HUANG FAMILY SETTLEMENT NO.2 v VICTOR CHOR SHING MA and SINO GLOBAL BUSINESS SERVICES PTY LTD (ACN 058 082 910) IN ITS OWN CAPACITY AND IN ITS CAPACITY AS TRUSTEE OF THE MA SUET KWAN SETTLEMENT AND OF THE V & V MA FAMILY TRUST
File number: SAD 38 of 2009
Judge: MANSFIELD J
Date of judgment: 11 May 2010
Catchwords: EQUITY – fiduciary duty – breach – person who occupies fiduciary position may not use that position to gain a profit or advantage whether or not acted fraudulently or with good intent – remedies – constructive trust – account for profits – must determine true measure of profit or benefit obtained by the fiduciary in breach of his duty – whether allowance should be made for fiduciary providing opportunity for investment or for management of investment – no allowance made in circumstances – where fiduciary used security of trust assets to secure personal borrowing – consideration of form of relief
Cases cited: Warman International Limited v Dwyer (1995) 182 CLR 544 discussed Hospital Products Limited v United States Surgical Corporation (1984) 156 CLR 41 cited Phipps v Boardman [1967] 2 AC 46 cited Chan v Zacharia (1984) 154 CLR 178 cited Regal (Hastings) Ltd v Gulliver [1942] 1 All ER 378 cited Paul A Davies (Australia) Pty Ltd (in liquidation) v Davies (1983) 1 NSWLR 441 cited Harris v Digital Pulse Pty Ltd (2003) 56 NSWLR 298 cited Maguire v Makaronis (1996) 188 CLR 449 cited Barnes v Addy (1874) LR 9 Ch App 244 cited Southern Cross Commodities Pty Ltd (In Liq) v Ewing (1998) 6 ACLC 647 cited Austin v Austin (1906) 3 CLR 516 cited Australian Securities Commission v AS Nominees Limited (1995) 62 FCR 504 cited
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