Federal Court of Australia
Federal Court of Australia
Primary Securities Ltd as Trustee of the Baker Partners Founders Fund v Warburton [2024] FCA 382 File number: WAD 31 of 2022
Judgment of: JACKSON J
Date of judgment: 17 April 2024
Catchwords: CORPORATIONS - application for directions by trustee - whether trustee justified in continuing or commencing proceeding against certain respondents and discontinuing proceeding against other respondents - claims for alleged receipt of misappropriated property - commercial trustee - opinion of counsel tendered - directions given
Legislation: Trustees Act 1962 (WA) ss 92, 95
Cases cited: Barnes v Addy (1874) LR 9 Ch App 244 Black v S Freedman & Co (1910) 12 CLR 105 Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Marley v Mutual Security Merchant Bank and Trust Co Ltd [1991] 3 All ER 198 Plan B Trustees Ltd v Parker (No 2) [2013] WASC 216 Primary Securities Ltd (Trustee), in the matter of Baker Partners Founders Fund [2021] FCA 1247 Re Ansett Australia Ltd and Korda (No 3) [2002] FCA 90; (2002) 115 FCR 409 Re Challis (dec) [2010] WASC 333 Re Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed) (No 4) [2017] FCA 1133 Re Pasminco Ltd (Subject to Deed of Company Arrangement) (No 2) [2004] FCA 656 Re Perpetual Investment Management Ltd as Responsible Entity for 10 Schemes listed in the Summons [2014] NSWSC 784
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