Stanton (WA) Pty Limited (In Liquidation) v Vasquez Investments Pty Limited [No.2] [2017] NSWSC 258

Supreme Court New South Wales

Medium Neutral Citation: Stanton (WA) Pty Limited (In Liquidation) v Vasquez Investments Pty Limited [No.2] [2017] NSWSC 258 Hearing dates: 15/03/2017 Date of orders: 15 March 2017 Decision date: 15 March 2017 Jurisdiction: Equity - Commercial List Before: McDougall J Decision: Plaintiff to have declarations and orders sought. Catchwords: TRUSTS AND TRUSTEES – where plaintiff removed as trustee – whether plaintiff is entitled to be indemnified for liabilities it incurred as trustee before removal – whether there was a fraudulent disposition of its legal interest as trustee – where trust property consists of shares in company – where that company issues further shares – whether there was unlawful or fraudulent dilution of the trust's shareholding Legislation Cited: Conveyancing Act 1919 (NSW) Corporations Act 2001 (Cth) Property Law Act 1969 (WA) Trustees Act 1962 (WA) Cases Cited: Franknelly Nominees Pty Ltd v Abrugiato [2013] WASCA 285 Hall v Poolman (2007) 215 FLR 243 Sheahan v Londish [2010] NSWCA 270 Category: Principal judgment Parties: Stanton (WA) Pty Limited (In Liquidation) (Plaintiff) Vasquez Investments Pty Limited (First Defendant) Bryve Resources Pty Ltd (Second Defendant) Robert Paul Stanton (Third Defendant) Lachlan Townend (Fourth Defendant) Vasquez (WA) Pty Ltd (Fifth Defendant) Shareholder Services Pty Ltd (Sixth Defendant) Representation: Counsel: P T Russell (Plaintiff)