Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Pleash, in the matter of Suncoast Restoration Pty Ltd (in liq) [2013] FCA 355 Citation: Pleash, in the matter of Suncoast Restoration Pty Ltd (in liq) [2013] FCA 355
Parties: BLAIR ALEXANDER PLEASH AND RICHARD ALBARRAN AS JOINT AND SEVERAL LIQUIDATORS OF SUNCOAST RESTORATION PTY LTD (IN LIQUIDATION) ACN 140 886 540 and SUNCOAST RESTORATION PTY LTD (IN LIQUIDATION) ACN 140 886 540 v COMMISSIONER OF TAXATION
File number: QUD 617 of 2012
Judge: REEVES J
Date of judgment: 18 April 2013
Catchwords: CORPORATIONS – liquidators of company that was a corporate trustee – where company was automatically removed as trustee upon entering administration by operation of clause in the trust deed – where company continued to hold trust assets as a bare trustee – where liquidators sold trust assets – where liquidators acting on legal advice and unaware company was bare trustee – whether liquidators should be excused under s 1318 of the Corporations Act 2001 (Cth) – whether liquidators should be excused under s 310 of the Superannuation Industry (Supervision) Act 1993 (Cth) – whether company should be excused under s 76 of the Trusts Act 1973 (Qld) – whether sales should be deemed sales within the company's powers as trustee – whether the company and liquidators should be indemnified by the trust fund
Legislation: Corporations Act 2001 (Cth) Superannuation Industry (Supervision) Act 1993 (Cth) Trustee Act 1958 (Vic) Trusts Act 1973 (Qld)
Cases cited: Apostolovski v Total Risk Management Pty Ltd (2010) 79 NSWLR 432; [2010] NSWSC 1451 Armitage v Nurse [1998] Ch 241 Barac v Farnell (1994) 53 FCR 193 Bruton Holdings Pty Ltd (in liq) v Federal Commissioner of Taxation (2011) 193 FCR 442; [2011] FCAFC 79 Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 CGU Insurance Ltd v Porthouse (2008) 235 CLR 103; [2008] HCA 30 Clarke v Federal Commissioner of Taxation (2008) 170 FCR 473; [2008] FCAFC 106 Deputy Commissioner of Taxation v Dick (2007) 64 ACSR 61; [2007] NSWCA 190 Federal Commissioner of Taxation v Bruton Holdings Pty Ltd (in liq) (2008) 173 FCR 472; [2008] FCAFC 184 Field v Nationwide News Pty Ltd [2009] NSWSC 1285 Fletcher, in the matter of Starrit Pty Ltd (in liq) [2012] FCA 803 Gibson v Barton (1875) LR 10 QB 329 Herdegen v Federal Commissioner of Taxation (1988) 84 ALR 271 Kerferd v Perpetual Executors and Trustees Association of Australasia Ltd (1893) 19 VLR 700 Lemery Holdings Pty Ltd v Reliance Financial Services Pty Ltd [2008] NSWSC 1344 R v Rahme (1993) 70 A Crim R 357 Re Spedding (deceased) [1966] NZLR 447 Re Suco Gold Pty Ltd (in liquidation) (1983) 33 SASR 99 Re Vouris; Epromotions Australia Pty Ltd and Relectronic-Remech Pty Ltd (in liq) (2003) 47 ACSR 155; [2003] NSWSC 702 Thakral Fidelity Pty Ltd v Commissioner of Stamp Duties (1997) 37 ATR 146 Waters, Law of Trusts in Canada, 2nd ed, 1984
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