Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677

FEDERAL COURT OF AUSTRALIA

Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 Citation: Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677

Parties: CATERPILLAR FINANCIAL AUSTRALIA LIMITED (ACN 006 714 585) v OVENS NOMINEES PTY LTD (ACN 102 941 328)

File number: VID 926 of 2010

Judge: GORDON J

Date of judgment: 14 June 2011

Date of hearing: 14 June 2011

Date of last submissions: 14 June 2011

Place: Melbourne

Division: GENERAL DIVISION

Category: No catchwords

Number of paragraphs: 42

Counsel for the Plaintiff: The Plaintiff did not appear

Solicitor for the Defendant: Mr Serong of Serong Legal

IN THE FEDERAL COURT OF AUSTRALIA VICTORIA DISTRICT REGISTRY GENERAL DIVISION VID 926 of 2010

BETWEEN: CATERPILLAR FINANCIAL AUSTRALIA LIMITED (ACN 006 714 585)

Plaintiff

AND: OVENS NOMINEES PTY LTD (ACN 102 941 328)

Defendant

JUDGE: GORDON J DATE OF ORDER: 14 JUNE 2011 WHERE MADE: MELBOURNE

THE COURT DECLARES THAT:

1. Pursuant to s 1318 of the Corporations Act 2001 (Cth) (the Act), and further or alternatively s 67 of the Trustee Act 1958 (Vic) (the Trustee Act), Ross Andrew Blakeley (the Liquidator) in his capacity as liquidator acted honestly, and ought fairly to be excused, for any breaches, failures or omissions, relating to the administration of Ovens Nominees Pty Ltd (ACN 102 941 328) (the Company), referred to in paragraph 3 below.

AND THE COURT ORDERS THAT:

2. Pursuant to s 479(3) of the Act and s 63 of the Trustee Act, the Company through its Liquidator be permitted to sell the assets of the Ovens Trust (the Trust) in the course of the winding up. 3. Pursuant to s 479(3) of the Act, the sale by the Company under the control of the Liquidator of leased BMW motor vehicle Registration ISSHI being an asset of the Trust be deemed to be a sale within the power of the Company as trustee of the Trust. 4. Pursuant to s 479(3) of the Act the proceeds of any sales of any Trust assets be dealt with by the Liquidator as assets in the winding up of the Company and accounted for accordingly. 5. Pursuant to s 479(3) of the Act, the costs and expenses incurred by the Company and Liquidator in realising any Trust assets and otherwise dealing with any Trust be costs in the winding up. 6. Pursuant to s 479(3) of the Act, the costs of this proceeding be costs in the winding up. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. The text of entered orders can be located using Federal Law Search on the Court's website.