NSW Caselaw
Reported Decision : 79 ACSR 425
New South Wales Supreme Court
CITATION : Trio Capital Limited (Admin App) v ACT Superannuation Management Pty Ltd & Ors [2010] NSWSC 941
HEARING DATE(S) : 5 May 2010
JUDGMENT DATE : 25 August 2010
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Palmer J
DECISION : Directions sought by Administrators not given; alternative directions given.
CATCHWORDS : CORPORATIONS – VOLUNTARY ADMINISTRATION – TRUSTS – corporate trustees' assets insufficient to pay administrators' fees and expenses – numerous trusts administered by corporate trustee – some trusts insolvent – whether administrators entitled to structure payments out of corporate assets to throw burden of recoupment of their fees and expenses only upon assets of solvent trusts.
LEGISLATION CITED : - Corporations Act 2001 (Cth) – Chapter 5, s 443D, s 447D, s 601FC(2) - Trustee Act 1925 (NSW) – s 81, s 85
CATEGORY : Procedural and other rulings
- Berkeley Applegate (Investment Consultants) Ltd (In liq), Re [1989] Ch 32 ([1988] 3 All ER 71) - 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (in liq) (1999) 30 ACSR 377 CASES CITED : - Duke of Norfolk's Settlement Trusts, Re [1982] Ch 61 - French Caledonia Travel Service Pty Ltd (in liq), Re (2003) 59 NSWLR 361 - Sutherland, Re Application of (2004) 50 ACSR 297 - Suco Gold Pty Ltd (in liq), In re (1983) 33 SASR 99
Stephen James Parbery, Neil Singleton & Nicholas Martin in their capacity as Joint and Several Administrators of Trio Capital Limited (Administrators appointed) and others as defined in the schedule (Plaintiffs) ACT Superannuation Management Pty Ltd (First Defendant) Z. Rocksandic representing Millhouse IAG Private Equity Fund (Second Defendant) PARTIES : R. & E. Thornton, trustees for Raid Provident Fund and representing ARP Growth Fund (Third Defendants) G. & K. Kolsky, representing Asttar Portfolio Service (Fourth Defendants) Silverhall Holdings Pty Ltd, representing MARQ Capital Diversified Property Fund (Fifth Defendant) Huntley Management Pty Ltd, responsible entity of MillhouseIAG Private Equity Fund (Sixth Defendant)
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate