Jaken Properties Australia Pty Ltd v Naaman [2022] NSWSC 517

Supreme Court New South Wales

Medium Neutral Citation: Jaken Properties Australia Pty Ltd v Naaman [2022] NSWSC 517 Hearing dates: 16–19, 23–27 November 2020; Final written submissions received 16 December 2020 Decision date: 29 April 2022 Jurisdiction: Equity - Real Property List Before: Kunc J Decision: Defendant/Cross-claimant entitled to relief Catchwords: EQUITY — Trusts and trustees — Powers, duties, rights and liabilities — Indemnity, lien and reimbursement — Obligations of new trustee to former trustee — Nature and extent of trust creditor's subrogation to former trustee's rights against new trustee Legislation Cited: Conveyancing Act 1919 (NSW) Corporations Act 2001 (Cth) Property Law Act 1958 (Vic) Trustee Act 1925 (NSW) Cases Cited: Agusta Pty Ltd v Provident Capital Ltd [2012] NSWCA 26 Barnes v Addy (1874) LR 9 Ch App 244 Bruton Holdings Pty Ltd (In Liquidation) v Commissioner of Taxation of the Commonwealth of Australia (2009) 239 CLR 346; [2009] HCA 32 Carnemolla v Adelaide Bank [2013] NSWCA 122 Carter Holt Harvey Woodproducts Australia Pty Limited v The Commonwealth of Australia (2019) 268 CLR 524; [2019] HCA 20 Claudia Leung in her capacity as Executrix of the Estate of the Late Robert Ho v Paul Mervyn Fordyce t/as PMF Legal Trading [2019] NSWSC 18 Deputy Commissioner of Taxation v Peter Sleiman Investments Pty Ltd as trustee for the Sleiman Family Trust [2016] NSWSC 1657 Grimaldi v Chameleon Mining NL (No 2) (2012) 200 FCR 296: [2012] FCAFC 6 Jones v Dunkel (1959) 101 CLR 538; [1959] HCA 9 Lemery Holdings Pty Ltd v Reliance Financial Services Pty Ltd (2008) 74 NSWLR 550; [2008] NSWSC 1344 McLean v Burns Philp Trustee Co Pty Ltd (1985) 2 NSWLR 623 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360; [1979] HCA 61 Peter Sleiman Investments Pty Ltd as trustee for the Sleiman Family Trust v Deputy Commissioner of Taxation [2017] NSWCA 81 Rockcote Enterprises Pty Ltd v FS Architects Pty Ltd; Carelli v FS Architects Pty Ltd [2008] NSWCA 39 Ron Kingham Real Estate Pty Ltd v Edgar [1999] 2 Qd R 439 Rothmore Farms Pty Ltd (in provisional liquidation) v Belgravia Pty Ltd & Ors [1999] FCA 745 Rothmore Farms Pty Ltd (In liq) v Belgravia Pty Ltd [2005] SASC 117 Smith v The Queen (2001) 206 CLR 650; [2001] HCA 50 Standard Chartered Bank v Antico (Nos 1 and 2) (1995) 38 NSWLR 290 Category: Principal judgment Parties: Jaken Properties Australia Pty Ltd ACN 123 423 432 (Plaintiff and First Cross Defendant) Peter Sleiman (Second Cross Defendant) Tony Sleiman (Third Cross Defendant) Superior Family Investments Pty Ltd (Fourth Cross Defendant) O'Malley's Hotel Pty Ltd ACN 608 025 636 (Fifth Cross Defendant) PSJK Holdings Pty Ltd (Sixth Cross Defendant) Powerhouse Corporation Pty Ltd (Seventh Cross Defendant)