McCabe as Syndic for the Victor Chang Cardiac Research Institute Ltd (ACN 068 363 235) v The Baltins Superannuation Fund [2017] NSWSC 1671

Supreme Court New South Wales

Medium Neutral Citation: McCabe as Syndic for the Victor Chang Cardiac Research Institute Ltd (ACN 068 363 235) v The Baltins Superannuation Fund [2017] NSWSC 1671 Hearing dates: 6 November 2017 Date of orders: 01 December 2017 Decision date: 01 December 2017 Jurisdiction: Equity Before: Slattery J Decision: Two trustees appointed. Liberty to apply granted to trustees to deal with any outstanding issues concerning the reinstatement of the deregistered former corporate trustee. Order for the trustees' costs of this application made on the indemnity basis out of the trust estate. Catchwords: EQUITY – Trusts and trustees – Court's supervision of - Appointment and removal of trustees – corporate trustee of superannuation fund deregistered after death of its principal beneficiary – compliance with the Superannuation Industry (Supervision) Act 1993 (Cth) – whether two new trustees should be appointed and vesting orders made under Trustee Act 1925, ss 70 and 71 – whether deregistered corporate trustee should be re-registered under Corporations Act 2001 (Cth), s 601AH. Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth), s 8(6) Banking Act 1959 (Cth) s 69(7) Corporations Act 2001 (Cth), s 601AH Real Property Act 1900 Superannuation Industry (Supervision) Act (Cth) 1993 Trustee Act 1925, ss 63, 70, 71 Uniform Civil Procedure Rules 2005, r 55.6 Cases Cited: Danich Pty Ltd Re Cenco Holdings Pty Ltd [2005] NSWSC 293 Re Inavas Pty Ltd [2017] NSWSC 1312 Re Cooper Street Property Trust [2016] VSC 756 Thorne Developments Pty Ltd v Thorne [2015] QSC 156 Texts Cited: J D Heydon and M J Leeming, Jacobs' Law of Trusts in Australia (8th ed, 2016, LexisNexis) Category: Consequential orders (other than Costs) Parties: Plaintiff: Luke Dominish, McCabes Lawyers Pty Limited Representation: Counsel: