Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Fletcher, in the matter of Starrit Pty Ltd (in liq) [2012] FCA 803 Citation: Fletcher, in the matter of Starrit Pty Ltd (in liq) [2012] FCA 803
Parties: STARRIT PTY LTD (IN LIQUIDATION) (ACN 113 093 977) and WILLIAM JOHN FLETCHER (IN HIS CAPACITY AS LIQUIDATOR OF STARRIT PTY LTD (IN LIQUIDATION) (ACN 113 093 977)
File number: QUD 255 of 2012
Judge: COLLIER J
Date of judgment: 31 July 2012
Catchwords: CORPORATIONS – winding up in insolvency – liquidator sold assets of company – liquidator subsequently discovered company was trustee of discretionary trust – office of trustee vacated on filing of winding up application – powers of bare trustee – claim liquidator acted honestly and reasonably – whether liquidator ought fairly be excused for any breaches, failures or omissions – whether Court should make orders sought by liquidator – application not opposed – consideration of Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 – s 479 (3) and s 1318 Corporations Act 2001 (Cth) – s 76 and s 94 Trusts Act 1973 (Qld)
Legislation: Corporations Act 2001 (Cth) ss 475, 479, 556, 1318 Property Law Act 1974 (Qld) s 124 Trusts Act 1973 (Qld) ss 76, 94 Trustee Act 1958 (Vic) s 63, 67
Cases cited: Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 followed Coats v Southern Cross Airlines Holdings Ltd (in liq) (1998) 16 ACLC 1393 cited ISPT Nominees Pty Ltd v Chief Commissioner of State Revenue (2003) NSWLR 196 cited Joyce v Cam [2004] NSWSC 621 cited Re Tietyens Investments Pty Ltd [1999] FCA 206 cited
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