In the matter of Project Volar Creditor’s Trust established in the administration of each of Virgin Australia Holdings Ltd & Ors [2022] NSWSC 307

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Project Volar Creditor's Trust established in the administration of each of Virgin Australia Holdings Ltd & Ors [2022] NSWSC 307 Hearing dates: 8 March 2022 Date of orders: 22 March 2022 Decision date: 22 March 2022 Jurisdiction: Equity - Corporations List Before: Black J Decision: Proceedings dismissed with costs. Catchwords: EQUITY — Trusts and trustees — Court's supervision of — Administration of trust — review of decision by trustees of a creditor's trust to reject proof of debt — extension of time to appeal trustees' decision — where employee's insurance policy was not maintained — whether there would have been a valid claim under the insurance policy had it been maintained — whether loss suffered Legislation Cited: Civil Aviation Safety Regulations 1998 (Cth), reg 67.270 Corporations Act 2001 (Cth), Pt 5.6 Div 6 Corporations Regulations 2001 (Cth), reg 5.6.54 Fair Work Act 2009 (Cth), ss 545 and 546 Trustee Act 1925 (NSW), s 81 Cases Cited: - 5G Developments Pty Ltd (in liq) v Massie, in the matter of 5G Developments Pty Ltd (in liq) [2021] FCA 791 - Commonwealth v Verwayen (1990) 170 CLR 394; [1990] HCA - Fair Work Ombudsman v Construction, Forestry, Maritime, Mining and Energy Union (the Hutchison Ports Appeal) [2019] FCAFC 69 - Maritime Union of Australia v Fair Work Ombudsman [2015] FCAFC 120 - Re Alora Davies Developments 104 Pty Ltd [2021] NSWSC 1583 - Re Bevillesta Pty Ltd [2011] NSWSC 1378 - Re Bevillesta Creditors Trust [2013] NSWSC 162 - Re Creditors' Trust Deed Established in the Administration of Bevillesta Pty Ltd [2013] NSWSC 1258 - Re DH International Pty Ltd (in liq) (2017) 121 ACSR 58; [2017] NSWSC 870 - Re Project Volar Creditors' Trust established in Administration of Virgin Australia Holdings Ltd (2021) 152 ACSR 540; [2021] NSWSC 425 - Re St Gregory's Armenian School Inc (2015) 109 ACSR 27; [2015] NSWSC 1465 - Westpac Banking Corp v Totterdell (1998) 20 WAR 150; 29 ACSR 448 Category: Principal judgment Parties: Ian Geoffrey Boyd (Plaintiff) Vaughan Strawbridge, John Greig Salvatore and Richard Hughes as Trustee of the Project Volar Creditors Trust Deed (Defendants) Representation: Counsel: J T Johnson (Plaintiff) D Krochmalik (Defendant)