Taylor, in the matter of Valteena Property Holdings Pty Ltd (In Liq) [2023] FCA 991

Federal Court of Australia

Taylor, in the matter of Valteena Property Holdings Pty Ltd (In Liq) [2023] FCA 991 File number(s): NSD 624 of 2023

Judgment of: HALLEY J

Date of judgment: 21 August 2023

Catchwords: CORPORATIONS – bare trustee – insolvency of a corporate trustee – necessary powers – s 81 of Trustee Act 1925 (NSW) – s 90-15 of the Insolvency Practice Schedule (Corporations) being Sch 2 to the Corporations Act 2001 (Cth) (Act) – analogous application of Pt 5.5 and Pt 5.6 of the Act to application and distribution of trust property – orders made

Legislation: Corporations Act 2001 (Cth) ss 479(3), 511, Sch 2, Insolvency Practice Schedule (Corporations) s 90-15 Trustee Act 1925 (NSW) s 81(1) Trustee Act 1958 (Vic) s 63(1)

Cases cited: Carter Holt Harvey Woodproducts Australia Pty Limited v The Commonwealth of Australia and others (2019) 268 CLR 524; [2019] HCA 20 Cremin, in the matter of Brimson Pty Ltd (in liq) [2019] FCA 1023 Deppeler, in the matter of Old Port Road Pty Ltd (in liq) [2021] FCA 980 Rathner (liquidator), in the matter of Garrows Close Pty Ltd (in liq) [2021] FCA 505

Division: General Division

Registry: New South Wales

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 25

Date of hearing: 18 August 2023

Solicitor for the Plaintiffs Mr L Cai of SLF Lawyers

ORDERS NSD 624 of 2023 IN THE MATTER OF VALTEENA PROPERTY HOLDINGS PTY LTD (IN LIQ) (ACN 609 141 684) MR JOSHUA PHILLIP TAYLOR IN HIS CAPACITY AS LIQUIDATOR OF VALTEENA PROPERTY HOLDINGS PTY LTD (IN LIQ) (ACN 609 141 684) First plaintiff