Trinkler v Beale & Ors [2009] NSWCA 30

Reported Decision: 72 NSWLR 365

New South Wales Court of Appeal

CITATION: Trinkler v Beale & Ors [2009] NSWCA 30

HEARING DATE(S): 11 December 2008

JUDGMENT DATE: 2 March 2009

JUDGMENT OF: Giles JA at 1; Macfarlan JA at 4; Gyles AJA at 60

(a) Leave to appeal granted. (b) The appellant within fourteen days to file a Notice of Appeal in the form of the draft contained in the Red Appeal Book. (c) The undertaking as to stamping of the Heads of Agreement proffered by the appellant to the Court be accepted. DECISION: (d) The Court specifies the period of 28 days from the date of these orders as the time within which the undertaking is to be complied with. (e) Appeal dismissed. (f) The appellant to pay the respondents' costs of the leave application and appeal. .

CATCHWORDS: PARTNERSHIP - agreement for dissolution - part of one partner's interest held by nominee company - other partner held sole share in the company on trust for the first partner - whether on dissolution of the partnership the other partner was required to give "fair value" to the first partner for the surrender of his beneficial interest in the company share - TRUSTS - "fair -dealing" rules of equity relating to the purchase of trust property by a trustee from a beneficiary - applicability in the context of the partnership dissolution in this case.

LEGISLATION CITED: Partnership Act 1892

CATEGORY: Principal judgment

Associated Alloys Pty Ltd v ACN 001452106 Pty Ltd [2000] HCA 25; (2000) 202 CLR 588 Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales (Finance) Pty Ltd [1974] HCA 22; (1974) 131 CLR 321 Chan v Zacharia [1984] HCA 35; (1984) 154 CLR 178 CASES CITED: Federal Commissioner of Taxation v Everett [1980] HCA 6; (1980) 143 CLR 440 Hospital Products Ltd v United States Surgical Corporation [1984] HCA 64; (1984) 156 CLR 41 Law v Law (1905) 1 Ch 140 Warman International Ltd v Dwyer (1995) 182 CLR 544