Hillig v Darkinjung Local Aboriginal Land Council [2006] NSWSC 1371

New South Wales Supreme Court

CITATION : Hillig v Darkinjung Local Aboriginal Land Council [2006] NSWSC 1371

HEARING DATE(S) : 07/12/06

JUDGMENT DATE : 12 December 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Declarations and orders to be made as set out in paragraph [39]

CATCHWORDS : EQUITY - equitable compensation - requirement that fiduciary account for gains - whether gains should be reduced by losses - EQUITY - equitable compensation - basis on which interest should be included in equitable compensation - EQUITY - vesting order - whether vesting order should be made in favour of beneficiary - where order sought refers to specified parcel of land and "all other property and assets of" trustee - where no refusal of trustee to transfer - where extent of trustee's right to resort to trust fund for indemnity not yet quantified - CORPORATIONS - winding up - by the court - where company resolves by special resolution that it be wound up by the court - whether court has discretion - relevance of availability of voluntary winding up by special resolution - whether any reason not to exercise discretion

Aboriginal Land Rights Act 1983, ss.52(1)(g)(ii), 152(4), 222 Aboriginal Land Rights Regulation 2002, cl 94 LEGISLATION CITED : Corporations Act 2001 (Cth), ss.232, 233, 249B, 461(1)(a), 462(2)(c), 467(3)(b), 491 Real Property Act 1900, s.86 Supreme Court (Corporations) Rules 1999, rule 5.11(3) Uniform Civil Procedure Rules 2005, rules 41.5, 42.25

Alemite Lubrequip Pty Ltd v Adams (1997) 41 NSWLR 45 Bartlett v Barclays Bank Trust Co Ltd [1980] Ch 515 Byrom Motors (Pvt) Ltd v Dolphin House (Pvt) Ltd 1958 (3) SA 532 Cameron v Murdoch (No 2) [1984] WAR 278 Chang v Registrar of Titles (1976) 137 CLR 177 Chief Commissioner of Stamp Duties v Buckle (1995) 38 NSWLR 574 Chief Commissioner of Stamp Duties v Buckle (1998) 192 CLR 226 CIC Insurance Ltd v Hannan & Co Pty Ltd (2001) 38 ACSR 245 CPT Custodian Pty Ltd v Commissioner of State Revenue (2005) 79 ALJR 1724 Ex parte Three Sisters (Pty) Ltd 1986 (1) SA 592 Fallis and Deacon v United Fuel Investments Ltd [1963] SCR 397 CASES CITED : Re Fernlake Pty Ltd (1994) 13 ACSR 600 Global Funds Management (NSW) Ltd v Burns Philp Trustee Co Ltd (1990) 3 ACSR 183 Gosford Christian School Ltd v Totonjian [2006] NSWSC 725 Hagan v Waterhouse (1991) 34 NSWLR 308 Hawke's Bay Fruit Canning Co Ltd v Boardman (1920) 15 MCR 2 Leca Investments (Pty) Ltd v Shiers 1978 (4) SA 703 Lewis v Nortex Pty Ltd [2006] NSWSC 480 Official Trustee in Bankruptcy v Buffier (2005) 54 ACSR 767 Re Buzolich Patent Damp-Resisting and Anti-Fouling Paint Company Ltd (1884) 10 VLR(E) 276 Re Suco Gold Pty Ltd (1983) 33 SASR 99 Re United Fuel Investments Ltd (1961) 31 DLR (2nd) 331 Scott v Scott (1963) 109 CLR 649