In the matter of Eighth Avenue Austral Pty Ltd [2024] NSWSC 1262

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Eighth Avenue Austral Pty Ltd [2024] NSWSC 1262 Hearing dates: 3 October 2024 Date of orders: 3 October 2024 Decision date: 03 October 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Parties to provide short minutes of order giving effect to this judgment. Catchwords: TRUSTS – Whether declarations of trust over shares were binding – Whether there was an objective intention to create a trust. TRUSTS – Certainty of subject matter – Whether the trust extended to a trust over shares or only to benefits derived from shares. Legislation Cited: - Corporations Act 2001 (Cth), s 175 - Evidence Act 1995, (NSW), s 136 Cases Cited: - Byrnes v Kendle (2011) 243 CLR 253; [2011] HCA 26 - Electricity Generation Corporation (T/as Verve Energy) v Woodside Energy Ltd (2014) 251 CLR 640; [2014] HCA 7 - Ellison v Sandini Pty Ltd [2018] FCAFC 44 - Hunter v Moss [1993] 1 WLR 452 - Saunders v Vautier (1841) 4 Beav. 115; (1841) 41 ER 482 - Shortall v White [2007] NSWCA 372 - White v Shortall [2006] NSWSC 1379 Category: Principal judgment Parties: SVVID Pty Ltd (First Plaintiff) Michael Gerace and Melissa Gerace atf the M & M Gerace Superannuation Fund (Second Plaintiff) Raffaele Gerace and Cinzia Gerace atf the R & C Gerace Superannuation Fund (Third Plaintiff) Nick Papallo and Catrina Papallo atf the N & C Papallo Superannuation Fund (Fourth Plaintiff) MG Investment Holdings (Aust) Pty Ltd (Fifth Plaintiff) RT Mammone Holdings Pty Ltd (Sixth Plaintiff) Lomandra Grove Pty Ltd (Seventh Plaintiff) Eighth Avenue Austral Pty Ltd (First Defendant) Aspromonte Pty Ltd (Second Defendant) Representation: Counsel: D L Cook SC/D Edney (Plaintiffs) F Corsaro SC (Second Defendant)