NSW Caselaw
New South Wales Supreme Court
CITATION : Westpac Banking Corporation v Earthwise International Limited & Ors [2005] NSWSC 1037
HEARING DATE(S) : 4 October 2005
JUDGMENT DATE : 4 October 2005
JURISDICTION : Equity Division
JUDGMENT OF : Palmer J
DECISION : Order that fund be paid out of Court to new trustee and distributed pro rata amongst beneficiaries.
CATCHWORDS : TRUSTS - MINGLED FUND - DISTRIBUTION - Trust funds of numerous investors mingled in various accounts in breach of trust - shortfall in trust funds - principle upon which trust fund should be distributed to beneficiaries.
CASES CITED : Sutherland Re; French Caledonia Travel Service (2003) 59 NSWLR 361
Plaintiff: Westpac Banking Corporation First Defendant: Earthwise International Limited 2nd Defendants: GFC Management Ltd and HSS Japan KK 3rd Defendant: Akemi Imamura & Co Ltd 22nd Defendant: Global Eye Consultants Co Ltd 44th Defendant: K. Network Co Ltd PARTIES : 52nd Defendant: Kenji Hasegawa 62nd Defendant: KP Corporation 83rd Defendant: Nicholas Assets Ltd 90th Defendant: Sewin International Ltd 103rd Defendant: Takashi Kanda 112th Defendant: Urban Development Co Ltd 126th Defendant: Yutex
FILE NUMBER(S) : SC 1684/02
COUNSEL : H.K. Insall SC - 2nd, 3rd, 22nd, 44th, 52nd, 62nd, 83rd, 90th, 103rd, 112th and 126th Defendants
- Henry Davis York: Plaintiff SOLICITORS : - Baker & McKenzie: 2nd, 3rd, 22nd, 44th, 52nd, 62nd, 83rd, 90th, 103rd, 112th and 126th Defendants
LOWER COURT JURISDICTION :
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