NSW Caselaw
Reported Decision : 58 ACSR 63 (2006) 24 ACLC 920
New South Wales Supreme Court
CITATION : Kalls Enterprises Pty Ltd (In Liq) v Baloglow [2006] NSWSC 617 This decision has been amended. Please see the end of the judgment for a list of the amendments.
HEARING DATE(S) : 24 – 28 & 31 October, 1 – 4 November, 5 – 7 December 2005, 2 February, 2, 7 & 24 March 2006
JUDGMENT DATE : 21 June 2006
JURISDICTION : Equity
JUDGMENT OF : Hamilton J
DECISION : Plaintiffs' claims dismissed.
CATCHWORDS : CORPORATIONS [256] – Winding up – Conduct and incidents of liquidation – Effect of winding up on other transactions – Other cases – Uncommercial transactions – Meaning of "transaction" - EQUITY [29] - General principles – Priority and notice – Transaction carried out in breach of trust – Whether subsequent recipient of funds on notice of breach of trust or fiduciary duty.
LEGISLATION CITED : The Corporations Law s 588FB Corporations Act 2001 (Cth) s 9, Part 5.7B ss 588FB to 588FG
Australian Kitchen Industries Pty Ltd v Albarran (2004) 51 ACSR 604 Baden v Societe Generale Pour Favoriser le Developpement du Commerce et de L'Industrie en France SA [1993] 1 WLR 509 Bailey v Barnes [1894] 1 Ch 25 Barnes v Addy (1874) LR 9 Ch App 244 Bartercard Ltd v Wily (2001) 39 ASCR 94 Consul Development Pty Ltd v DPC Estates Pty Ltd (1975) 132 CLR 373 Hancock Family Memorial Foundation Ltd v Porteous (1999) 151 FLR 191, 32 ACSR 124 Hancock Family Memorial Foundation Ltd v Porteous (2000) 201 CLR 347 Hancock Family Memorial Foundation Ltd v Porteous (2000) 22 WAR 198 Koorootang Nominees Pty Ltd v Australia & New Zealand Banking Group Ltd [1998] 3 VR 16 Lifestyle Earls Court Pty Ltd (in liq) v Mentone Mansions Pty Ltd [2006] VSC 2 CASES CITED : Macquarie Health Corp Ltd v Commissioner of Taxation (1999) 96 FCR 238 Mann v Sangria Pty Ltd (2001) 38 ACSR 307 New Cap Reinsurance Corp Ltd (in liq) v Somerset Marine Inc [2003] NSWSC 540 Prentice v St George Bank Ltd (2002) 20 ACLC 923 Re Emanuel (No 14) Pty Ltd (in liq); Macks v Blacklaw & Shadforth Pty Ltd (1997) 147 ALR 281; 24 ACSR 292 Royal Brunei Airlines Sdn Bhd v Tan [1995] 2 AC 378 Sansom v Westpac Banking Corp (1996) 7 BPR 14,615 Say-Dee Pty Ltd v Farah Constructions Pty Ltd [2005] NSWCA 309 Somerset Marine Inc v New Cap Reinsurance Corp Ltd (in liq) [2003] NSWCA 338 V R Dye & Co v Peninsula Hotels Pty Ltd (in liq) [1999] 3 VR 201 Ware v Lord Egmont (1854) 4 De G M & G 460; 43 ER 586 J D Heydon & M J Leeming, Jacobs' Law of Trusts in Australia (2006) [1337]
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