NSW Caselaw
New South Wales Supreme Court
CITATION : Cook v Alto Prestige Pty Limited [2010] NSWSC 92
HEARING DATE(S) : 16, 17, 18, 19 and 20 November 2009
JUDGMENT DATE : 31 March 2010
JUDGMENT OF : Bergin CJ in Eq
DECISION : Plaintiff entitled to declarations and an order for payment of $457,063.
CATCHWORDS : CONTRACT - whether the parties agreed to an express or implied term in respect of a fund to which each party contributed that it be redistributed if the business closed - TRUSTS - whether fund created for specific purpose - whether purpose failed - whether resulting trust
Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567 BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 266 Brambles Holdings Limited v Bathurst City Council [2001] NSWCA 61; (2001) 53 NSWLR 153 Bryson v Bryant & Anor (1992) 29 NSWLR 188 CASES CITED : Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337 Gibert v Gonard (1884) 54 LJ Ch 439 In re Goldcorp Exchange Ltd [1995] 1 AC 74 Public Curator of Queensland v The Union Trustee Company of Australia Ltd (1922) 31 CLR 66 Twinsectra Ltd v Yardley [2002] 2 AC 164
TEXTS CITED : Robert Chambers, Resulting Trusts, (1997), Oxford University Press The Quistclose Trust: Critical Essays, (2004), Hart Publishing, Oxford and Portland
Anthony Martin Cook (Plaintiff) PARTIES : Alto Prestige Pty Limited (First Defendant) George Altomonte (Second Defendant)
FILE NUMBER(S) : SC 5487/2007
COUNSEL : GL Turner (Plaintiff) JRJ Lockhart SC (First and Second Defendants)
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