In the matter of Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 Hearing dates: 31 July 2024 Date of orders: 31 July 2024 Decision date: 13 August 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Directions given to Plaintiff as sought. Catchwords: TRUSTS – Application for judicial advice – Whether property is trust property – Whether property or proceeds of its sale must be transferred to incoming trustee – Where there is a change of trustee. Legislation Cited: - Insolvency Practice Schedule (Corporations), s 90-15 - Real Property Act 1900 (NSW) - Superannuation Industry Supervision Act 1993 (Cth), Pt 6, Pt 8, ss 62, 109 - Trustee Act 1925 (NSW), ss 8-9, 63, 71, 78, 81 Cases Cited: - Caterpillar Financial Australia Pty Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 - Equititrust Ltd (in liq) (rec apptd) (recs and mgrs apptd) v Equititrust Ltd (in liq) (rec apptd) (recs and mgrs apptd) (No 4) [2017] FCA 1133 - Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66; [2008] HCA 42 - Pleash and others as joint and several liquidators of Suncoast Restoration Pty Ltd (ACN 140 886 540 (in liq)) (2013) 93 ACSR 606; [2013] FCA 355 - Re Australian Pipeline Ltd (2006) 60 ACSR 625; [2006] NSWSC 1316 - Re Estate Late Chow Cho-Poon; Application for Judicial Advice [2013] NSWSC 844 - Re Go Energy Group Ltd [2019] NSWSC 558 - Re Montpac Pty Ltd (in liq) and Global Network Link Pty Ltd (in liq) (2020) 149 ACSR 138; [2020] NSWSC 1237 - Re The Project Volar Creditors' Trust established in the administration of Virgin Australia Holdings Ltd & Ors [2021] NSWSC 425 Category: Principal judgment Parties: Absolute Vision Technologies Pty Ltd (administrator appointed) (First Plaintiff) Jeffrey Allan Shute in his capacity as administrator of Absolute Vision Technologies Pty Ltd (administrator appointed) (Second Plaintiff) Representation: Counsel: A Gandar (Plaintiffs)