In the matter of Creditors' Trust of Jackgreen (International) Pty Ltd [2011] NSWSC 748

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Creditors' Trust of Jackgreen (International) Pty Ltd [2011] NSWSC 748 Hearing dates: 12 July 2011 Decision date: 18 July 2011 Jurisdiction: Equity Division Before: Ward J Decision: Order that trustees are entitled to remuneration out of the trust fund as sought Catchwords: JUDICIAL ADVICE - application for judicial advice pursuant to s 63 of the Trustee Act 1925 (NSW) - in the alternative, application for trustees to be further remunerated pursuant to s 81 of the Act or the Court's inherent jurisdiction - HELD - order that the trustees are entitled to further remuneration out of the trust fund pursuant to s 81 or the Court's inherent jurisdiction Legislation Cited: Corporations Act 2001 (Cth) Electricity Supply Act 1995 (NSW) Trustee Act 1925 (NSW) Cases Cited: Application of Macedonian Orthodox Community Church St Petka Inc (No 2) [2005] NSWSC 558; (2005) 63 NSWLR 441 Arakella Pty Ltd v Paton (As Representatives of the Unitholders of GNS Trading Trust) [2004] NSWSC 13; (2004) 60 NSWLR 334 Cuesuper Pty Ltd [2009] NSWSC 981 In re Freeman's Settlement Trusts (1887) 37 Ch D 148 In re Keeler's Settlement Trusts [1981] Ch 156 Leonard Thomas Hinde [2007] NSWSC 640 Lock v Westpac Banking Corp (1991) 25 NSWLR 593 Macedonian Orthodox Community Church St Petka Inc v Petar (2006) 66 NSWLR 112 Macedonian Orthodox Community Church v His Eminence Petar the Diocesan Bishop of the Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 Marshall v Holloway (1820) 2 Swan 432, 36 ER 681 Mettoy Pension Trustees Ltd v Evans [1990] 1 WLR 1587; [1991] 2 All ER 513 Nissen v Grunden (1912) 14 CLR 297 Parbery and Others (in their capacity as joint and several administrators of Trio Capital Ltd (admins apptd) and Others) v ACT Superannuation Management Pty Ltd and Others [2010] NSWSC 941 Queensland Coal and Oil Shale Mining Industry (Superannuation) Ltd [1999] 2 Qd R 524 Re application of Sutherland (2004) 50 ACSR 297 Re Cox's Will (1890) 11 LR (NSW) Eq 124 Re Duke of Norfolk's Settlement Trusts [1982] Ch 61; [1981] 3 All ER 220 Re Gulbenkian's Settlements [1970] AC 508 at [522]; [1968] 3 All ER 785 Re White; Tweedie v Attorney-General (2003) 7 VR 219 Riddle v Riddle (1952) 85 CLR 202 Texts Cited: Ford & Lee, The Law of Trusts Heydon, J D and Leeming M J, Jacobs' Law of Trusts in Australia (7th edn) Category: Procedural and other rulings Parties: Atle Crowe-Maxwell and John Frederick Lord in their capacity as Trustees of the Creditors' Trust of Jackgreen (International) Pty Ltd (Plaintiffs) Representation: Counsel W M Addison (Solicitor) (Plaintiffs) Solicitors DibbsBarker (Plaintiffs) File Number(s): 11/191535