Federal Court of Australia
Federal Court of Australia
Haycraft v AF1 Services Pty Ltd [2022] FCA 1441 File number: NSD 449 of 2022
Judgment of: STEWART J
Date of judgment: 29 November 2022
Catchwords: PRACTICE AND PROCEDURE – application for stay of proceeding for just and equitable winding up of the first defendant and replacement of it as trustee of two trusts – where plaintiff and second defendant gave undertaking to bank that they would not take action to remove trustee of one of the trusts – whether undertaking given to bank was also given between the plaintiff and second defendant to each other – whether second defendant can enforce the undertaking – whether winding up would be breach of the undertaking
Legislation: Corporations Act 2001 (Cth) s 461(1)(k) Trustee Act 1925 (NSW) ss 70, 71
Cases cited: Bridging Capital Holdings Pty Ltd v Self Directed Super Funds Pty Ltd (Costs) [2022] FCA 361 Leerac Pty Ltd v Garrick E Fay [2008] NSWSC 1082
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 22
Date of hearing: 29 November 2022
Counsel for the Plaintiff: S Meehan
Solicitor for the Plaintiff: Harris Friedman Lawyers
Counsel for the Second Defendant: D Neggo
Solicitor for the Second Defendant: Macpherson Kelley
ORDERS NSD 449 of 2022
BETWEEN: PAUL LATHAM HAYCRAFT Plaintiff
AND: AF1 SERVICES PTY LTD First Defendant
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