Dreiberg & Anor v Bettles and Carter as liquidators of Corindi Beach Developments Pty Ltd & 5 Ors [2007] NSWSC 1204

New South Wales Supreme Court

CITATION : Dreiberg & Anor v Bettles and Carter as liquidators of Corindi Beach Developments Pty Ltd & 5 Ors [2007] NSWSC 1204

HEARING DATE(S) : 5/12/06, 31/01/07, 19/06/07, 19/07/07

JUDGMENT DATE : 30 October 2007

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

DECISION : See paragraph 14 of judgment.

CATCHWORDS : CORPORATIONS – Liquidators – Company trustee of trust – Whether liquidator of company can be appointed new trustee of trust – Possibility of there being a real prospect of a conflict of interest should not be assumed – Company removed as trustee and liquidators appointed as trustees in their personal capacity. - PRACTICE AND PROCEDURE – Costs – Proceeding ceased without hearing – Reasonableness of conduct of parties – Distinction between surrender and supervening events rendering proceeding moot.

LEGISLATION CITED : Trustee Act 1925 (NSW)

Global Funds Management (NSW) Ltd v Burns Philp Trustee Co Ltd (in prov liq) (1990) 3 ACSR 183 Jacobs, Law of Trusts in Australia, 7th ed (2006) Chatswood, LexisNexis Butterworths CASES CITED : Grime Carter & Co Pty Ltd v Whytes Furniture (Dubbo) Pty Ltd [1983] 1 NSWLR 158 Re Minister for Immigration and Ethnic Affairs; ex parte Lai Qin (1997) 186 CLR 622 One.Tel Ltd v Commissioner of Taxation (2000) 101 FCR 548

Frederick Dreiberg & Anor PARTIES : v Jason Bettles and Susan Carter as liquidators of Corindi Beach Developments Pty Ltd & 5 Ors

FILE NUMBER(S) : SC 2515/06

Plaintiffs: R Glasson COUNSEL : 1st Defendant: J T Johnson 2nd, 4th-7th Defendants: S Bell