Premier Land Holdings Pty Ltd v Excellent Development Pty Ltd [2017] NSWSC 1575

Supreme Court New South Wales

Medium Neutral Citation: Premier Land Holdings Pty Ltd v Excellent Development Pty Ltd [2017] NSWSC 1575 Hearing dates: 2, 3 November 2017 Decision date: 20 November 2017 Jurisdiction: Equity Before: Emmett AJA Decision: 1. Direct the plaintiff to bring in short minutes of orders to give effect to the conclusions reached in the reasons of today. Catchwords: EQUITY – trusts and trustees – their appointment, dismissal, estate etc Legislation Cited: Australian Consumer Law, s 18 Companies Ordinance (Cap 622) (HK) Category: Principal judgment Parties: Premier Land Holdings Pty Ltd (Plaintiff and Second Cross Defendant) Excellent Development Pty Ltd (First Defendant and First Cross Claimant) Min Liu (Second Defendant) Yanmei Xu (First Cross Defendant) Representation: Counsel: A Greinke (Plaintiff and Second Cross Defendant) A Joseph (Defendants and Cross Claimants)

Solicitors: Auyeung Hecent & Day Lawyers (Plaintiff and Second Cross-Defendant) Goodwin & Co Lawyers (Defendants and Cross-Claimants) Crown Solicitor's Office (Submitting Appearance) File Number(s): 2016/123081

Judgment 1. The principal question in these proceedings is whether the plaintiff, Premier Land Holdings Pty Ltd (Premier), or the defendant, Excellent Development Pty Ltd (Excellent), is the trustee of the Excellent Unit Trust (the Trust). The Trust was established by a trust deed executed by Excellent on 18 March 2015 (the Trust Deed). Excellent was purportedly removed as trustee on 14 August 2015 and replaced by Premier. The present dispute is concerned with the effectiveness of that purported removal, which depends upon who the directors of Key Luck International Ltd (Key Luck) were at that date.