Woodward v Woodward [2014] NSWSC 481

Supreme Court New South Wales

Medium Neutral Citation: Woodward v Woodward [2014] NSWSC 481 Hearing dates: 19 and 28 February 2014 Decision date: 28 April 2014 Jurisdiction: Equity Division Before: Robb J Decision: Subject to the solicitor for the plaintiff and the solicitor for the defendants advising the court that they are prepared to hold the funds in accordance with order (3): (1)Order that Zelotde Pty Ltd, as trustee for the Rungdee Trust, be joined in these proceedings as the third defendant. (2)Grant leave to the third defendant to apply on seven days' notice to the plaintiff for an order vacating the order that it be joined as a third defendant, and vacating or varying any of these orders as made against it. (3)On the plaintiff by his counsel giving the usual undertaking as to damages, order each of the defendants to cause all monies under their joint or separate control that were paid out of the Woodward Family Trust's account following the resolutions made by the second defendant on or about 14 June 2013 to be paid within seven days into a joint account in the name of the solicitor for the plaintiff and the solicitor for the defendants, to be retained by those solicitors pending the further order of the court. (4)Grant leave to the defendants on seven days' notice to the plaintiff to apply to the court for an order varying order (3) to authorise the solicitors for the parties to release to the defendants, or any of them, any specified sum for use by the defendants in any manner approved by the court. (5)Direct the solicitors for the plaintiff and the defendants to advise the associate to Robb J within three working days whether or not they are prepared to hold the monies on the terms of order (3). (6)Order that the costs of the plaintiff's application for interlocutory relief be each party's costs in the cause. Catchwords: EQUITY - trusts and trustees - assets of trust - whether trustee contravened duties - whether to preserve funds paid out of trust account pending determination of dispute - JOINDER OF PARTIES - whether the party would suffer procedural unfairness - whether there is substantial claim against the party Cases Cited: Australian Broadcasting Corporation v O'Neill (2006) 227 CLR 57 Category: Interlocutory applications Parties: George Lloyd Woodward (plaintiff) Grant Nicholas Woodward (first defendant) Highland Grazing Company (second defendant) Zelotde Pty Ltd (third defendant) Representation: Counsel: M Bradford (plaintiff) Solicitors: Carroll & O'Dea (plaintiff) File Number(s): 2013/322337