Benton, in the matter of Mackay Rural Pty Ltd (Receivers and Managers Appointed) [2014] FCA 1285

FEDERAL COURT OF AUSTRALIA

Benton, in the matter of Mackay Rural Pty Ltd (Receivers and Managers Appointed) [2014] FCA 1285 Citation: Benton, in the matter of Mackay Rural Pty Ltd (Receivers and Managers Appointed) [2014] FCA 1285

Parties: IN THE MATTER OF MACKAY RURAL PTY LTD (RECEIVERS AND MANAGERS APPOINTED); WAYNE EDWARD BENTON, KENNETH STEWART SELLERS AND SHELLEY MAREE BROOKS IN THEIR CAPACITY AS RECEIVERS AND MANAGERS OF MACKAY RURAL PTY LTD (RECEIVERS AND MANAGERS APPOINTED) and MACKAY RURAL PTY LTD (RECEIVERS AND MANAGERS APPOINTED) v PAUL MACKAY AMOURGIS and JANETTE CHRISTINE AMOURGIS

File number: VID 641 of 2014

Judge: BEACH J

Date of judgment: 25 November 2014

Catchwords: CORPORATIONS – insolvency – receivers and managers – appointment under debenture charge – validity of appointment – scope of powers over trust property – exercise of right of indemnity under trust deed – right of indemnity under s 27(2) of Trustee Act 1898 (Tas) – power to enter into possession and sell trust property – powers under s 420 of the Corporations Act 2001 (Cth) – declarations and orders under ss 418A and 424 of Corporations Act 2001 (Cth) MORTGAGES – receivers and managers appointed under real property mortgage – power of sale under s 78(1) of Land Titles Act 1980 (Tas) – power of sale under s 420 of Corporations Act 2001 (Cth)

Legislation: Corporations Act 2001 (Cth) ss 418A, 420, 424, 437A(1)(c), 477(2)(c) Federal Court of Australia Act 1976 (Cth) ss 22, 23 Land Titles Act 1980 (Tas) s 78(1) Trustee Act 1898 (Tas) s 27(2)