Goo v Sim [2022] NSWSC 420

Supreme Court New South Wales

Medium Neutral Citation: Goo v Sim [2022] NSWSC 420 Hearing dates: 8, 9 and 10 February 2021. Further submissions 17 and 25 February and 2 March 2021. Date of orders: 8 April 2022 Decision date: 08 April 2022 Jurisdiction: Equity Before: Henry J Decision: (1) Dismiss the Further Amended Statement of Claim. (2) Unless any party makes an application for a different cost order within 21 days, the defendant's costs of these proceedings be paid by the plaintiffs on an ordinary basis as agreed or assessed. Catchwords: EQUITY – Trusts and trustees – whether a Quistclose trust arose – where funds provided for the establishment of a company and its ordinary business operations EQUITY – Trusts and trustees – Black v Freedman trust – Misappropriation of funds – where funds were not the plaintiff's property but were the property of another company EQUITY – Fiduciary duties – claimed to arise by virtue of position as senior employee, director and as party to a joint venture – where funds were not the plaintiff's property but were the property of another company RESTITUTION – Money had and received – whether total failure of consideration – where money was transferred into and out of company bank account – where money not used for company purposes – whether unjust enrichment Legislation Cited: Civil Procedure Act 2005 (NSW) Corporations Act 2001 (Cth) Evidence Act 1995 (NSW) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: ACI Operations Pty Ltd v Tallant [2013] NSWSC 367 Australasian Conference Association Ltd v Mainline Constructions Pty Ltd (in liq) (1978) 141 CLR 335 Australia Capital Financial Management Pty Ltd v Linfield Developments Pty Ltd; Guan v Linfield Developments Pty Ltd [2017] NSWCA 99 Baltic Shipping Company v Dillon (1993) 176 CLR 344 Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567 Belmont Finance Corporation v Williams Furniture Ltd (No 2) [1980] 1 All ER 393 Black v S Freedman & Co (1910) 12 CLR 105; [1910] HCA 58 BM Sydney Building Materials Pty Ltd v AWT Building Group (Aust) Pty Ltd; BM Sydney Building Materials Pty Ltd v AWT Building Pty Ltd; Harpro Group Pty Ltd v BM Sydney Building Materials Pty Ltd [2019] NSWSC 421 Brambles Holdings Ltd v Bathurst City Council (2001) 53 NSWLR 153; [2001] NSWCA 61 Briginshaw v Briginshaw (1938) 60 CLR 336; [1938] HCA 34 Consul Development Pty Ltd v DPC Estates Pty Ltd (1975) 132 CLR 373 CSR Ltd v Adecco (Australia) Pty Ltd [2017] NSWCA 121 David Securities Pty Ltd v Commonwealth Bank of Australia (1992) 175 CLR 353 Equuscorp Pty Ltd v Haxton; Equuscorp Pty Ltd v Bassat; Equuscorp Pty Ltd v Cunningham's Warehouse Sales Pty Ltd (2012) 246 CLR 498; [2012] HCA 7 Farah Constructions Pty Ltd v Say-Dee Pty Ltd (2007) 230 CLR 89; [2007] HCA 22 Friend v Brooker (2009) 239 CLR 129; [2009] HCA 21 Gibson Motor Sport Merchandise [2005] FCA 749 Grimaldi v Chameleon Mining NL (No 2); Chameleon Mining NL v Murchison Metals Ltd (2012) 200 FCR 296; [2012] FCAFC 6 Heperu Pty Ltd v Belle [2009] NSWCA 252 Houghton v Immer (No 155) (1997) 44 NSWLR 46 Investa Properties Pty Ltd v Nankervis (No 7) [2015] FCA 1004 Jones v Dunkel (1959) 101 CLR 298; [1959] HCA 8 Juul v Northey [2010] NSWCA 211 Perry v Perry [2021] NSWSC 1669 Peter Cox Investments Pty Ltd (in liq) v International Air Transport Association [1999] FCA 27 Raulfs v Fishy Bite [2011] NSWSC 105 Raulfs v Fishy Bite [2012] NSWCA 135 Re Courtenay House Capital Trading Group Pty Limited (in liq) and Courtenay House Pty Limited (in liq) [2018] NSWSC 404; (2018) 125 ACSR 149 Roxborough v Rothmans of Pall Mall Australia Ltd (2001) 208 CLR 516; [2001] HCA 68 Sagacious Legal Pty Ltd v Westfarmers General Insurance Ltd [2011] FCAFC 53 Schellenberg v Tunnel Holdings Pty Ltd (2000) 200 CLR 121; [2000] HCA 18 Warner v Hung, In the matter of Bellpac Pty Limited (Receivers and Managers appointed) (In Liq) (No 2) (2011) 297 ALR 56; [2011] FCA 1123 Watson v Foxman (1995) 49 NSWLR 31 Westpac Banking Corporation v Lee [2013] NSWCA 375 Texts Cited: Young, Croft and Smith, On Equity (2009, LawBook Co) Mason & Carter, Restitution Law in Australia (4th ed, 2021, LexisNexis) Category: Principal judgment Parties: Jin Seoung Goo (First Plaintiff) Tokorea Pty Limited (Second Plaintiff) Oakwood Sydney Pty Limited (Third Plaintiff) Sun Sick Sim (Defendant) Representation: Counsel: M Hall with C Palmer (Plaintiffs) D Eardley (Defendant)