Jubilee Properties Pty Ltd v Parkview Farm Pty Ltd [2014] NSWSC 563

Supreme Court New South Wales

Medium Neutral Citation: Jubilee Properties Pty Ltd v Parkview Farm Pty Ltd [2014] NSWSC 563 Hearing dates: 28-30 April 2014 Decision date: 12 May 2014 Jurisdiction: Equity Division - Expedition List Before: Stevenson J Decision: Claim against trustee dismissed Catchwords: EQUITY - trusts - breach of trust - whether trustee should be removed due to breach of trust - whether breach of trust through misapplication of funds - whether breach of trust by causing the trust to provide guarantee - whether breach of trust by causing trust to borrow at higher interest rates - winding up of trust- whether minority unit holder had standing to call for winding up of trust - construction of trust deed - whether trustee had power to make amendments - whether amendments were breach of trust Cases Cited: Cachia v Westpac Financial Services Ltd [2000] FCA 161; 33 ACSR 572 Electricity Generation Corporation (t/as Verve Energy) v Woodside Energy Ltd [2014] HCA 7 Jubilee Properties Pty Ltd v Parkview Farm Pty Ltd [2013] NSWSC 2011 Karger v Paul [1984] VR 161 King Network Group Pty Ltd v Club of the Clubs Pty Ltd [2008] NSWCA 344; 69 ACSR 172 Lock v Westpac Banking Corporation (1991) 25 NSWLR 593 Saunders v Vautier (1841) 49 ER 282 Texts Cited: J D Heydon and M J Leeming, Jacobs' Law of Trusts in Australia (7th ed, 2006) Category: Principal judgment Parties: Parkview Farm Pty Ltd (Cross Claimant/ Defendant) Jubilee Properties Pty Limited (First Cross Defendant/Plaintiff) Jubilee Group Pty Ltd (Second Cross Defendant) Representation: Counsel: C R C Newlinds SC with B Lloyd (Cross Claimant/Defendant) N J Kidd SC (Cross Defendants/Plaintiff) Solicitors: Bartier Perry (Cross Claimant/Defendant) Banki Haddock Fiora (Cross Defendants/Plaintiff) File Number(s): SC 2013/362571