David Kerr as additional trustee for the S.E.A.S. Sapfor Forests Pty Limited Scheme (No 2) [2022] NSWSC 612

Supreme Court New South Wales

Medium Neutral Citation: David Kerr as additional trustee for the S.E.A.S. Sapfor Forests Pty Limited Scheme (No 2) [2022] NSWSC 612 Hearing dates: On the papers Decision date: 18 May 2022 Jurisdiction: Equity - Commercial List Before: Ball J Decision: (1) Pursuant to s 63 of the Trustee Act 1925 (NSW), the plaintiff is justified in distributing the judgment sum awarded pursuant to the judgment of Stevenson J in Kerr v Australian Executor Trustees (SA) Ltd [2019] NSWSC 1279 and the orders made by Stevenson J in those proceedings (being Commercial List proceeding No 2017/00164674) on 22 October 2019 (Judgment Sum) in the manner which is set out in Annexure A; (2) The Plaintiff is entitled to remuneration incurred in the distribution of the Judgment Sum in an amount not exceeding $375,000 excluding GST; (3) The Plaintiff's remuneration fixed pursuant to order 2 be paid from the assets of the S.E.A.S. Sapfor Forests Pty Limited Scheme; (4) An order that the costs of this application be paid from the assets of the S.E.A.S. Sapfor Forests Pty Limited Scheme; and (5) The application for the relief sought in paragraphs 1.2 and 3 of the notice of motion filed on 17 March 2022 be stood over until 2 June 2023. Catchwords: EQUITY — Trusts and trustees — Judicial advice — Appropriate distribution of judgment sum plus post-judgment amounts Legislation Cited: Trustee Act 1925 (NSW) Cases Cited: Australian Executor Trustees (SA) Ltd v Kerr [2021] NSWCA 5; 151 ACSR 204 Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth (2019) 268 CLR 524; [2019] HCA 20 In the matter of Creditors' Trust of Jackgreen (International) Pty Ltd [2011] NSWSC 748 Kerr v Australian Executor Trustees (SA) Ltd [2019] NSWSC 1279 Category: Consequential orders Parties: David Kerr as additional trustee for S.E.A.S. Sapfor Forests Pty Limited Scheme (Plaintiff) Representation: Counsel: A Sullivan QC with SH Hartford Davis (Plaintiff)