Application of Sutherland [2004] NSWSC 798

Reported Decision : 50 ACSR 297 (2004) 22 ACLC 1326

New South Wales Supreme Court

CITATION : Application of Sutherland [2004] NSWSC 798 HEARING DATE(S) : 23 August 2004 JUDGMENT DATE : 23 August 2004 JURISDICTION: Equity JUDGMENT OF : Campbell J DECISION : Remuneration allowed. Procedure for fixing remuneration laid down.

CATCHWORDS : TRUSTS - trustee goes into administration, then into liquidation - first administrator, then liquidator, does work in administering trusts - basis on which administrator and liquidator remunerated for work in administering trust assets - TRUSTS - inherent jurisdiction of court to permit remuneration of trustee - extends to permit remuneration of person in practical control of corporate trustee - CORPORATIONS - administration and winding up - administrator and liquidator do work in administering trusts of which company is trustee - basis for remuneration of administrator and liquidator - procedure for fixing amount of remuneration which is reasonable and proper LEGISLATION CITED : Corporations Act 2001 (Cth) 13 Coromandel Place Pty Ltd v C L Custodian Pty Ltd (in liq) (1999) 30 ACSR 377 In re Berkeley Applegate (Investment Consultants) Ltd (In liquidation) Boardman v Phipps [1967] 2 AC 46 Clutha v Millar (No 5) (2002) 43 ACSR 295; (2003) 21 ACLC 1; [2002] NSW SC 833 Re Cox's Will (1890) 11 LR (NSW) Eq 124 In Re Duke of Norfok's Settlement Trusts; Perth (Earl) v Fitzalan-Howard [1982] Ch 61 Re Eastern Capital Futures LTB (1989) 5 BCLC 223 In re Freeman's Settlement Trusts (1887) 37 Ch D 148 Re French Caledonia Travel [2003] NSWSC 1008; (2003) 48 ACSR 97; (2003) 204 ALR 353; (2003) ACLC 498 re G B Nathan & Co Pty Ltd (In Liq) (1991) 24 NSWLR 674 CASES CITED : Harris v Conway [1989] 1 Ch 32 In re Jarvis, decd; Edge v Jarvis [1958] 1 WLR 815 Johnston v Johnston (1903) 4 SR (NSW) 8 In Re Keeler's Settlement Trusts [1981] 1 Ch 156 Marshall v Holloway (1820) 2 Swans 432 In Re Masters, decd [1953] 1 WLR Nissen v Grunden (1912) 14 CLR 297 Plomley v Shepherd (1896) 17 LR (NSW) Eq 215 Richardson v Allen (1870) 10 SCR (Eq) 1 Re White; Tweedie v Attorney-General (2003) 7 VR 219 In Re Worthington, decd; Leighton v MacLeod [1954] 1 WLR 526 PARTIES : Roderick Mackay Sutherland - First Applicant French Caledonia Travel Service Pty Limited (in liquidation) - Second Applicant FILE NUMBER(S) : SC 3173/02 COUNSEL : S Golledge, solicitor - First Applicant SOLICITORS : The Argyle Partnership - First Applicant