Jainti Pty Ltd v Fraser Panorama Pty Ltd [2021] NSWSC 744

Supreme Court New South Wales

Medium Neutral Citation: Jainti Pty Ltd v Fraser Panorama Pty Ltd [2021] NSWSC 744 Hearing dates: 23 – 26 November 2020 Date of orders: 25 June 2021 Decision date: 25 June 2021 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Order that the sum of $161,160 (plus interest) held in the controlled moneys account of Bird & Bird be paid to Jainti Pty Ltd as trustee for the Zambito Trust. 2. Reserve the question of costs to be dealt with on the papers if possible. 3. Direct the parties to file brief written submissions on costs within 14 days, with a view to dealing with the question of costs on the papers if possible, and any submissions on any interest claimed by Jainti for the period from payment of the distribution to Anthony Zamattia and the placement of the moneys in the controlled moneys account. Catchwords: EQUITY — Trusts and trustees — Beneficiaries — Wrongful distribution of trust property –– Rule in Saunders v Vautier Legislation Cited: Corporations Act 2001 (Cth), ss 436A, 477(2A)-(2B) Cases Cited: CPT Custodian Pty Ltd v Commissioner of State Revenue (2005) 224 CLR 98; [2005] HCA 53 Australian Securities and Investments Commission v Rich (2005) 53 ACSR 752; [2005] NSWSC 417 Baden Delvaux & Lecuit v Société Générale pour Favoriser le Développement du Commerce et de l'Industrie en France SA [1993] 1 WLR 509 Barnes v Addy (1874) LR 9 Ch App 244 Beck v Henley (2014) 11 ASTLR 457; [2014] NSWCA 201 Boensch v Pascoe [2019] HCA 49 Brandi v Mingot (1976) 12 ALR 551 Delaforce v Simpson-Cook (2010) 78 NSWLR 483; [2010] NSWCA 84 Giumelli v Giumelli (1999) 196 CLR 1; [1999] HCA 10 Hasler v Singtel Optus Pty Ltd (2014) 87 NSWLR 609; [2014] NSWCA 266 HML v R (2008) 235 CLR 334; [2008] HCA 16 Ho v Powell (2001) 51 NSWLR 572; [2001] NSWCA 168 Jones v Dunkel [1959] HCA 8; (1959) 101 CLR Kalls Enterprises Pty Ltd (in liq) v Baloglow (2007) 63 ACSR 557; [2007] NSWCA 191 Katsilis v Broken Hill Pty Co Ltd (1977) 18 ALR 181 Kuhl v Zurich Financial Services Australia Ltd (2011) 243 CLR 361; [2011] HCA 11 Lucent Technologies Inc v Krone Aktiengesellschaft (No 3) [2000] FCA 100 Macquarie Developments Pty Ltd v Forrester [2005] NSWSC 674 Northampton Borough Council v Cardoza [2019] EWHC 26 Payne v Parker [1976] 1 NSWLR 191 Re Marshall; Marshall v Marshall [1914] 1 Ch 192 RHG Mortgage Ltd v Rosario Ianni [2015] NSWCA 56 Rosebanner Pty Ltd v Energy Australia (2009) 223 FLR 406; [2009] NSWSC 43 Saunders v Vautier (1841) 41 ER 482 Stone v Melrose Cranes & Rigging Pty Ltd (2018) 125 ACSR 406; [2018] FCA 530 Category: Principal judgment Parties: Jainti Pty Ltd (in liquidation) (Plaintiff) Fraser Panorama Pty Ltd (First Defendant) Anthony Zamattia (Second Defendant) Representation: Counsel: Mr H W Somerville (Plaintiff) Mr M Luitingh (Second Defendant)