Musumeci Property Investments Pty Limited in its capacity as the trustee of the ABC Discretionary Trust v National Australia Bank Ltd & Ors [2024] NSWSC 43

Supreme Court New South Wales

Medium Neutral Citation: Musumeci Property Investments Pty Limited in its capacity as the trustee of the ABC Discretionary Trust v National Australia Bank Ltd & Ors [2024] NSWSC 43 Hearing dates: 31 January 2024 Date of orders: 2 February 2024 Decision date: 02 February 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Proceedings dismissed; order as to costs made. Catchwords: CORPORATIONS – Whether receivers validly appointed – whether s 8 of Farm Debt Mediation Act 1994 (NSW) applies where secured property wholly outside New South Wales. Legislation Cited: - Acts Interpretation Act 1901 (Cth), s 21 - Conveyancing Act 1919 (NSW), s 111(2)(b) - Corporations Act 2001 (Cth), s 418A - Farm Debt Mediation Act 1994 (NSW), ss 4, 5, 8, 14 - Farm Debt Mediation Act 2017 (Qld) - Farm Debt Mediation Act 2018 (SA) - Farm Debt Mediation Act 2011 (Vic) - Federal Court Act 1976 (Cth), ss 33A, 33D - Interpretation Act 1987 (NSW), s 12 - Law of Property Act 2000 (NT), s 89 - Real Property Act 1900 (NSW), s 57(2)(b) - Water Management Act 2000 (NSW), s 71X(1)(b) Cases Cited: - BHP Group Ltd v Impiombato (2022) 405 ALR 402; [2022] HCA 33 - Chubb Insurance Company of Australia Ltd v Moore (2013) 302 ALR 101; [2013] NSWCA 212 - Commonwealth Bank of Australia v Ellis (unreported, 2 April 1997) - Constaninidis v Equity Trust Ltd [2010] NSWSC 299 - DRJ v Commissioner of Victims' Rights (No 2) (2020) 103 NSWLR 692; [2020] NSWCA 242 - Edmonds v Barrington Winstanley Group [2023] NSWCA 166 - Jones, Weaver and Saker as Receivers and Managers of Narrogin Beef Producers Pty Ltd (recs and mgrs apptd) v Narrogin Beef Producers Pty Ltd (recs and mgrs apptd) (No 2) [2010] WASC 365 - National Australia Bank v Redside Pty Ltd (2023) 69 VR 539; 167 ACSR 668; [2023] VSC 145 - Re Munja Bakehouse Pty Ltd [2024] NSWSC 6 - Syncap Management (Rural) Australia Ltd v Lyford (2004) 51 ACSR 223; 22 ACLC 1508; [2004] FCA 1352 - Wipro Ltd v State of New South Wales [2022] NSWCA 265 Category: Principal judgment Parties: Musumeci Property Investments Pty Ltd in its capacity as the trustee of the ABC Discretionary Trust (First Plaintiff) Cheeky Farms Pty Ltd (Second Plaintiff) National Australia Bank Limited (First Defendant) Sam Andrew Marsden (Second Defendant) Timothy Joseph Heenan (Third Defendant) Kathie Musumeci (Fourth Defendant) Representation: Counsel: M Pesman SC/D Brezniak (Plaintiffs) A Leopold SC/B Koch (First – Third Defendants)