Permanent Trustee Co Ltd v Bernera Holdings Pty Ltd [2004] NSWSC 56

New South Wales Supreme Court

CITATION : Permanent Trustee Co Ltd v Bernera Holdings Pty Ltd [2004] NSWSC 56 HEARING DATE(S) : 10/12/03 JUDGMENT DATE : 18 February 2004 JURISDICTION: Equity Division JUDGMENT OF : Young CJ in Eq DECISION : No adjustment made in the liabilities between the parties.

CATCHWORDS : CORPORATIONS LAW [89] Directors- Donee of power of attorney of a director may not exercise office of director. EQUITY [82]- Defences- Acquiescence- Ratification. SUCCESSION [273]- Administration- Conflict between deceased's personal estate and his family trust- Missing entries in records- How conflict resolved- Whether overpaid beneficiary can be sued. LEGISLATION CITED : Corporations Act 2001, s 201M Cashman v 7 North Golden Gate Mining Co (1897) 7 QLJ 152 Clark v Clark (1882) 8 VLR (Eq) 303 David Securities v Commonwealth Bank of Australia (1992) 175 CLR 353 Davies v National Trustees etc [1912] VLR 397 Edmunds v Pickering (No 3) (1999) 75 SASR 407 Equiticorp Finance Ltd v Bank of New Zealand (1993) 32 NSWLR 50 Glasson v Fuller [1922] SASR 148 Hely-Hutchinson v Brayhead Ltd [1968] 1 QB 549 CASES CITED : Hyhonie Holdings Pty Ltd v Leroy [2003] NSWSC 624 Lapraik v Burrows (The Australia) (1859) 13 Moo PCC 132; 15 ER 50 Leeds (Duke) v Amherst (Earl) (1846) 2 Ph 117; 41 ER 886 Morris v Kanssen [1946] AC 459 Orr v Ford (1989) 167 CLR 316 Re Diplock's Estate [1948] Ch 251 Reid v Deane [1906] VLR 138 Sterndale v Hankinson (1827) 1 Sim 393; 57 ER 625 Wall v Cockerell (1863) 10 HLC 229 PARTIES : Permanent Trustee Company Limited (P) Bernera Holdings Pty Limited (D) FILE NUMBER(S) : SC 2370/02 COUNSEL : P H Blackburn-Hart (P) D Davies SC (D) SOLICITORS : Windeyer Dibbs (P) Makinson & d'Apice (D)