In the Matter of French Caledonia Travel Service Pty Limited (in liquidation) - Application of Roderick Mackay Sutherland [2002] NSWSC 641

Reported Decision : 42 ACSR 524 (2002) 20 ACLC 1486

New South Wales Supreme Court

CITATION : In the Matter of French Caledonia Travel Service Pty Limited (in liquidation) - Application of Roderick Mackay Sutherland [2002] NSWSC 641 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 3173/02 HEARING DATE(S) : 19 July 2002 JUDGMENT DATE : 19 July 2002

PARTIES : Roderick Mackay Sutherland (First Applicant) French Caledonia Travel Service Pty Limited (In Liquidation) (Second Applicant) JUDGMENT OF : Campbell J

COUNSEL : D Durston - (First Applicant) SOLICITORS : The Argyle Partnership - (First Applicant) CATCHWORDS : TRUSTS - tracing of trust money - money held on different trusts mixed in a bank account, and bank account insufficient to meet all claims on it - principles by which proprietory right to money in bank account to be decided - CORPORATIONS - winding up - company in liquidation is a trustee - role of liquidator in administering trust assets - procedure for liquidator to follow to bar unknown claims to trust assets - entitlement of liquidator to costs from trust assets LEGISLATION CITED : Corporations Act 2001 Trustee Act 1925 Australian Securities and Investments Commission v Enterprise Solutions 2000 Pty Ltd [2001] QSC 082 Australian Securities Commission v Melbourne Asset Management Nominee Pty Ltd (receiver and manager appointed) (1994) 49 FCR 334 Barlow Clowes International Ltd (in liq) v Vaughan [1992] 4 All ER 22 Clayton's Case; Devaynes v Noble (1816) 1 Mer 572; 35 ER 781 Grime Carter & Co Pty Ltd v Whytes Furniture (Dubbo) Pty Ltd [1983] 1 NSWLR 158 Hagan v Waterhouse (1991) 34 NSWLR 308 In Re Suco Gold Pty Ltd (in liquidation) (1983) 33 SASR 99 Keefe v Law Society of New South Wales (1998) 44 NSWLR 451 CASES CITED : Lord Provost of Edinburgh v Lord Advocate (1879) 4 App Cas 823 Re G B Nathan Pty Ltd (in liq) (1991) 24 NSWLR 674 Re Greater West Insurance Brokers Pty Ltd [2001] NSWSC 825; (2001) 39 ACSR 301 Re Jones (deceased); ex parte Mayne (1953) ABC 169 Re Registered Securities Ltd [1991] 1 NZLR 545 Scott v Scott (1963) 109 CLR 649 Stephens Travel Service International Pty Ltd (receiver and manager appointed) v Qantas Airways (1988) 13 NSWLR 331 Windsor Mortgage Nominees Pty Ltd (as trustee) v Raymond Griffith Cardwell (1979) ACLC 40-540 Whitton v ACN 003 266 886 Pty Ltd (1996) 42 NSWLR 123 DECISION : Directions given