ROBINS & ORS v INCENTIVE DYNAMICS PTY LTD (in liq) & ANOR [2003] NSWCA 71

Reported Decision : (2003) 45 ACSR 244 (2003) 21 ACLC 1030

New South Wales Court of Appeal

CITATION : ROBINS & ORS v INCENTIVE DYNAMICS PTY LTD (in liq) & ANOR [2003] NSWCA 71 HEARING DATE(S) : 11 December 2002 JUDGMENT DATE : 9 April 2003

JUDGMENT OF : Mason P at 1; Stein JA at 80; Giles JA at 81 DECISION : Declaration of remedial constructive trust. See also par 79.

CATCHWORDS : Corporations - directors - breach of fiduciary duties - Corporations Law, s232(6)-Corporations Act 2001, s182 - money transferred to company in which directors had an interest - knowing receipt within Barnes v Addy (1864) LR 9 Ch App 244 - personal and proprietary remedies - remedial constructive trust - whether rescission necessary (D) Corporations Law, ss232(6), 286 LEGISLATION CITED : Corporations Act 2001, s182 Federal Courts (State Jurisdiction) Act 1999 Australian Securities Commission v Melbourne Asset Management Barnes v Addy (1874) LR 9 Ch App 244 Bathurst City Council v PWC Properties Pty Ltd (1998) 195 CLR 566 Baumgartner v Baumgartner (1987) 164 CLR 137 Belmont Finance Corporation v Williams Furniture Ltd & Ors (No 2) [1980] 1 All ER 393 Bryson v Bryant (1992) 29 NSWLR 188 Chew v The Queen (1992) 173 CLR 626 Daly v Sydney Stock Exchange Ltd (1986) 160 CLR 371 Duke Group Ltd (in liq) v Pilmer (1998) 27 ACSR 1 Farrow Finance Co Ltd (in liq) v Farrow Properties Pty Ltd (in liq) (1997) 26 ACSR 544 Giumelli v Giumelli (1999) 196 CLR 101 Greater Pacific Investments Pty Ltd (in liq) v Australian National Industries Ltd (1996) 39 NSWLR 143 CASES CITED : Halifax Building Society v Thomas [1996] Ch 217 Hancock Family Memorial Foundation Ltd v Porteous (2000) 22 WAR 198 Incentive Dynamics Pty Ltd (in liq) v Robins & Ors [1999] FCA 808 Koorootang Nominees Pty Ltd v Australian & New Zealand Banking Group Ltd [1998] 3 VR 16 Linter Group Ltd v Goldberg (1992) 7 ACSR 580 Muschinski v Dodds (1985) 160 CLR 583 Ninety Five Pty Ltd (in liq) v Banque Nationale de Paris [1988] WAR 132 Nominees (receiver and manager appointed) (1994) 49 FCR 334 Paul A Davies (Australia) Pty Ltd (in liq) v Davies (1982) 1 ACLC 66 R v Byrnes and Hopwood (1995) 183 CLR 501 Re Wakim; ex parte McNaly (1999) 198 CLR 511 Rolled Steel Products (Holdings) Ltd v British Steel Corporation [1986] 1 Ch 246 Westdeutsche Landesbank Girozentrale v Islington London Borough Council [1996] AC 669 PARTIES : Douglas Robert McNeill ROBINS & Ors v INCENTIVE DYNAMICS PTY LTD (in liq) & Anor FILE NUMBER(S) : CA 40155/2000 COUNSEL : Cross-Appellant: F Whelan QC/ J Chippendall Cross-Respondent: M English (Sol) SOLICITORS : Appellant: Kemp Strange Respondent: English Kearns