Alphena Pty Limited (In liq) v PS Securities Pty Ltd as Trustee of the Joseph Family Trust [2013] NSWSC 447

Supreme Court New South Wales

Medium Neutral Citation: Alphena Pty Limited (In liq) v PS Securities Pty Ltd as Trustee of the Joseph Family Trust [2013] NSWSC 447 Hearing dates: 9 April 2013 Decision date: 29 April 2013 Jurisdiction: Equity Division Before: Kunc J Decision: Declarations made. Assessment of liquidator's remuneration referred to Registrar. Catchwords: COMPANIES - Members' voluntary winding up - Former trustee of family trust - Appropriate scale for assessment of liquidator's remuneration. TRUSTS AND TRUSTEES - Former trustee's lien over trust assets - Equitable jurisdiction to allow remuneration to liquidator of former trustee to be paid from trust assets. Legislation Cited: Corporations Act 2001 (Cth) Legal Profession Act 2004 (NSW) Supreme Court Act 1970 (NSW) Cases Cited: 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (In liq) (1999) 30 ACSR 377; 17 ACLC 500 Garra Water Investments Pty Ltd (In liq) v Ourback Yard Nursery Pty Ltd [2012] SASC 44 Grossman v E Katz Manufacturing Jewellers (ACT) Pty Ltd [2004] NSWSC 1224; (2004) 213 ALR 373 Hu v PS Securities Pty Limited as trustee of the Joseph Family Trust and Alphena Pty Limited (In liq) [2011] NSWSC 303 Parbury & Ors (in their capacity as joint and several administrators of Trio Capital Limited (Admins apptd) & Ors v ACT Superannuation Management Pty Limited & Ors [2010] NSWSC 941; (2010) 79 ACSR 425 St Justins Properties v Rule Holdings Pty Ltd [1980] FCA 11; (1980) 40 FLR 282 Re Berkeley Applegate (Investment Consultants) Pty Ltd (In liq); Harris v Conway [1989] 1 Ch 32 Re Eastern Capital Futures Limited (In liq) [1989] BCLC 371 Re GB Nathan & Co (In liq) (1991) 24 NSWLR 674 Re Grimthorpe [1985] Ch 615 Re Lord (as liquidator of Maureen Michael Management Pty Ltd (In liq)) [2005] NSWSC 1044; (2006) 55 ACSR 539 Re Suco Gold Pty Ltd (In liq) (1982) 33 SASR 99 Re Sutherland (French Caledonia Travel Service Pty Limited (In liq) [2003] NSWSC 1008; (2003) 59 NSWLR 361 Re Sutherland [2004] NSWSC 798; (2004) 50 ACSR 297 Re Walker & Anor [2009] NSWSC 557; (2005) ACSR 11 Category: Principal judgment Parties: Alphena Pty Limited (In liquidation) (Plaintiff) PS Securities Pty Limited ACN 141 021 445 as Trustee of the Joseph Family Trust (Defendant) Representation: M.K. Condon SC (instructed by Sage Solicitors) D.L. Cook (instructed by Mooney & Kennedy) Sage Solicitors (Plaintiff) Mooney & Kennedy (Defendant) File Number(s): 2011/72723 Publication restriction: Nil