Helena Hu v PS Securities Pty Ltd as trustee of the Joseph Family Trust & anor [2011] NSWSC 98

Supreme Court New South Wales

Medium Neutral Citation: Helena Hu v PS Securities Pty Ltd as trustee of the Joseph Family Trust & anor [2011] NSWSC 98 Hearing dates: 22 February 2011 Decision date: 02 March 2011 Before: Ward J Decision: Freezing order granted Catchwords: PROCEDURE - application for freezing order under rule 25.11 of the Uniform Civil Procedure Rules - effect of lodgement of proof of debt on ability to claim a right of subrogation to former trustee's right of indemnity out of trust assets to meet judgment debt - whether plaintiff has standing to maintain such a claim - HELD -sufficiently arguable case as to existence of right of subrogation - reasonable apprehension of risk or dissipation of assets - freezing order granted Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: ACT Commissioner for Revenue v Slaven [2009] FCA 744 Adams v Zen 28 Pty Ltd [2010] QSC 36 Aliprandi v Griffith Vintners Pty Ltd (in liq) (1991) 9 ACLC 1530 Cardile v LED Builders Pty Ltd (1999) 198 CLR 380 Clyne v DCT (No 3) (1984) 154 CLR 589; 55 ALR 143 Corowa Fertilizers Pty Ltd v Cranney Farm (Unreported 09/291644) Coxton Pty Ltd v Milne (Unreported Judgment, 20 December 1985) Crawford v Oswald Park Pty Ltd (in liq) [2006] NSWSC 987 CSR Ltd v Cigna Insurance Australia Ltd (1997) 189 CLR 345 Dean -Willcocks v Soluble Solution Hydroponics (1997) 42 NSWLR 209 Dowse v Gorton [1891] AC 190 Helena Hu v Kathy Ho and Alphena Pty Ltd (Unreported 2008/4115) HIH Casualty and General Insurance Ltd (in liq) v Building Insurers' Guarantee Corporation & Anor (2003) 202 ALR 610 Jennings v Mather [1901] 1 KB 1 Lerinda Pty Ltd v Laertes Investments Pty Ltd as Trustee for Ap -Pack Deveney Unit Trust [2009] QSC 251 Ninemia Maritime Corporation v Trave GmbH & Co KG (The Niedersachsen) [1983] 1 WLR 1412 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 S & D International v MIG Property Services [2010] VSC 336 Texts Cited: Austin & Black's Annotations to the Corporations Act Fore & Austin's Principle's of Corporations Law (7th edn) Category: Procedural and other rulings Parties: Helena Hu (Plaintiff) PS Securities Pty Ltd as Trustee of the Joseph Family Trust (First Defendant) Alphena Pty Ltd (in liq) (Second Defendant) Representation: Counsel: M W Young with S O'Brien (Plaintiff) B Skinner (First Defendant) Solicitors: Dixon Holmes du Pont Lawyers (Plaintiff) Sally Nash & Co (First Defendant) File Number(s): 10/425147