In the matter of Phoenix Rising Investments Pty Limited (ACN 123 623 754) [2015] NSWSC 2063

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Phoenix Rising Investments Pty Limited (ACN 123 623 754) [2015] NSWSC 2063 Hearing dates: 2 – 4 June 2015 Date of orders: 02 June 2015 Decision date: 02 June 2015 Jurisdiction: Equity Before: Brereton J Decision: See [5], [11], [21]-[22], [26], [28]-[32]. Catchwords: EQUITY – equitable remedies – accounts and inquiries – surcharges – whether payments treated as dividends – competing inferences.

EQUITY – equitable remedies – accounts and inquiries – objection to payments made out of trust – where payments made after appointment of provisional liquidator – where payments characterised as superannuation entitlements – whether futile to require repayment given defendants' entitlement to subsequent payment out of superannuation entitlements.

EQUITY – equitable remedies – accounts and inquiries – entitlement to share in property – agreement as to proportionate share and interest – entitlement to rents received and liability for expenses incurred – where third defendant incurred expenses in providing financial support to companies in group – whether third defendant entitled to just allowances for reasonable expenses – where expenses not incurred in transactions in the property.

EQUITY – equitable remedies – accounts and inquiries – falsifications – whether payments actually made – sufficiency of evidence – whether payments properly claimable. Category: Principal judgment Parties: David Alexander Grace (plaintiff) Deborah Sharon Grace (first defendant) Julienne Grace (second defendant) Nevilda Holdings Pty Ltd (third defendant) Nevilda Investments Pty Ltd (fourth defendant) Dutchie Pty Ltd (sixth defendant) Phoenix Rising Investments Pty Ltd (seventh defendant) Representation: Counsel: D Williams SC w S Goodman (plaintiff) D Stewart (first, second, seventh defendant)