Webster, in the matter of Willmott Forests Limited (Receivers and Managers Appointed) (Administrators Appointed) v Fernandez [2012] FCA 82

FEDERAL COURT OF AUSTRALIA

Webster, in the matter of Willmott Forests Limited (Receivers and Managers Appointed) (Administrators Appointed) v Fernandez [2012] FCA 82 Citation: Webster, in the matter of Willmott Forests Limited (Receivers and Managers Appointed) (Administrators Appointed) v Fernandez [2012] FCA 82

Parties: BRYAN WEBSTER, MARK ANTHONY KORDA and MARK FRANCIS XAVIER MENTHA v AVITUS THOMAS FERNANDEZ

File number: VID 104 of 2011

Judge: DODDS-STREETON J

Date of judgment: 13 February 2012

Catchwords: CORPORATIONS – Plaintiffs appointed as joint and several receivers and managers over charged property – Application for directions and declarations that charged property included moneys held in NAB bank account at time of plaintiffs' appointment and that plaintiffs entitled to possession of sum transferred to defendant's bank account – Whether defendant entitled to funds under doctrine of tracing – Whether defendant held equitable lien over funds with priority over deeds of charge – Directions and declarations made

Legislation: Corporations Act 2001 (Cth) ss 424, 443D, 443E, 443F

Cases cited: ASIC v GDK Financial Solutions Pty Ltd (in liq) (No 3) (2008) 246 ALR 580 cited ASIC v Letten (No 13) [2011] FCA 1151 cited Brennan v Wings-Aus Holdings Pty Ltd (2009) 74 NSWLR 602 cited Coad v Wellness Pursuit Pty Ltd (2009) 40 WAR 53 discussed Commonwealth Bank of Australia v Butterell (1994) 35 NSWLR 64 cited Dean-Willcocks v Nothintoohard Pty Ltd (in liq) [2006] NSWCA 311 cited Foskett v McKeown [2001] 1 AC 102 cited Hamilton v Donovan Oats Hannaford Mortgage Corp Ltd (2007) 207 FLR 163 discussed Marsden Re Snowburn Pty Ltd [2009] NSWSC 710 cited McCluskey v Wieselmann, in the matter of Westmeats (Export) Pty Ltd (Receivers and Managers Appointed) (in liq) [2011] FCA 1340 Re Agriculture.com Pty Ltd (in liq) [2003] NSWSC 145 cited Re Joseph Phillips Ltd [1964] 1 All ER 441 cited Re Universal Distributing Co Ltd (in liq) (1933) 48 CLR 171 considered Shirlaw v Taylor (1991) 31 FCR 222 cited Weston & Anor v Carling Constructions Pty Ltd (in prov liq) & Anor (2000) 175 ALR 202 cited