Federal Court of Australia
Federal Court of Australia
Primary Securities Ltd (Trustee), in the matter of Baker Partners Founders Fund [2021] FCA 1247 File number: WAD 135 of 2021
Judgment of: COLVIN J
Date of judgment: 14 October 2021
Catchwords: CORPORATIONS - application by trustee of managed investment scheme for orders winding up class of investment scheme and unit trust - application for judicial advice that trustee justified in commencing and prosecuting proceedings against insurer and refraining from prosecuting existing arbitral proceedings - where units in class invested in shares in specified fund - where investment suffered substantial loss - where trustee alleges fund and director of fund responsible for loss - where trustee commenced arbitral proceedings against fund and director - where trustee found no evidence that fund and director have assets to satisfy arbitral award - whether appropriate for orders winding up scheme - application for judicial advice granted - application otherwise dismissed
Legislation: Corporations Act 2001 (Cth) ss 601ND, 601NF, Part 5C.9 Trustees Act 1962 (WA) s 92
Cases cited: Bruce v LM Investment Management Ltd [2013] QSC 192 Capelli v Shepard [2010] VSCA 2; (2010) 29 VR 242 Chief Commissioner of Stamp Duties for New South Wales v Buckle (1998) 192 CLR 226 Gatsios Holdings Pty Ltd v Nick Kritharas Holdings Pty Ltd (in liq) [2002] NSWCA 29 In re Beddoe; Dowmes v Cottam [1893] 1 Ch 547 at 557 Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar The Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Plan B Trustees Ltd v Attorney-General (WA) [2012] WASC 392 Preston, in the matter of Sandalwood Properties Ltd [2018] FCA 547 Re Courtenay House Capital Trading Group Pty Ltd (in liq) [2021] NSWSC 256 Re Stacks Managed Investments Ltd [2005] NSWSC 753 Silvia administrators appointed, in the matter of FEA Plantations Ltd (subject to deed of company arrangement) (receivers appointed) [2013] FCA 1331
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate