Sydney Markets Credit Services Co-operative Limited ABN 67503292864 v Barry Anthony Taylor as Trustee of the Bankrupt Estate of Natale Piscuineri; A.C.N 123849883 Pty Limited v Sydney Market Credit Services Co-Operative Limited (No. 2) [2015] NSWSC 499

Supreme Court New South Wales

Medium Neutral Citation: Sydney Markets Credit Services Co-operative Limited ABN 67503292864 v Barry Anthony Taylor as Trustee of the Bankrupt Estate of Natale Piscuineri; A.C.N 123849883 Pty Limited v Sydney Market Credit Services Co-Operative Limited (No. 2) [2015] NSWSC 499 Hearing dates: Reasons based on the consideration of written submissions completed 15 July 2014. Date of orders: 01 May 2015 Decision date: 01 May 2015 Jurisdiction: Equity Division Before: Slattery J Decision: See paragraph [37]. Catchwords: CONTRACT – interpretation of contract of guarantee – whether guarantee created equitable interest subsequently acquired real property – where guarantors subsequently acquired property as trustees of beneficiaries of a superannuation fund.

EQUITY – trusts and trustees – application for vesting order. Legislation Cited: Superannuation Industry (Supervision) Regulations 1994 (Cth) Trustee Act 1925 (NSW) Cases Cited: Barlin Investments Pty Ltd v Westpac Banking Corporation (2012) 2012 BPR 30,671 Butler v Fairclough (1917) 23 CLR 78; [1917] HCA 9 Clark v Raymor (Brisbane) Pty Ltd (No 2) [1982] Qd R 790 Double Bay Newspapers Pty Ltd v AW Holdings Pty Ltd (1996) 42 NSWLR 409 Global Network Services Pty Ltd v Legion Telecall Pty Ltd [2001] NSWCA 279 Heid v Reliance Finance Corporation Pty Ltd (1983) 154 CLR 326 In the application of Roderick Mackay Sutherland and Sule Arnautovic [2014] NSWSC 821 Jacobs v Platt Nominees Pty Ltd [1990] VR 146 Latec Investments Ltd v Hotel Terrigal Pty Ltd (in liq) (1965) 113 CLR 265; [1965] HCA 17 Swiss Bank Corp v Lloyds Bank Ltd [1982] AC 584 Sydney Markets Credit Services Co-operative Limited v Taylor [2014] NSWSC 754 Westfield Holdings Limited v Australian Capital Television Pty Ltd (1992) 32 NSWLR 194 Texts Cited: JD Heydon & MJ Leeming, Jacobs' Law of Trusts in Australia (7th ed 2006, LexisNexis Butterworths)