Kite v Mooney, in the matter of Mooney's Contractors Pty Ltd (in liq) [2016] FCA 886

Kite v Mooney, in the matter of Mooney's Contractors Pty Ltd (in liq) [2016] FCA 886

Because of uncertainty regarding the liquidators' power to handle trust property after the trustee company is disqualified, and following precedents, it is proper for the Court to appoint the liquidators as receivers and managers to enable them to deal with the property of the Mooney Family Trust.

Jurisdiction
Australia
Judgment Date
29 July 2016
Procedural Posture
Application for Appointment of Receivers and Managers / Interlocutory Orders
Outcome
Application granted; liquidators appointed as receivers and managers of the trust property
Legal Topics
['external Administration' 'trust Property' "liquidators' Powers" 'receivers and Managers' 'trustee Company in Liquidation']
['corporations' 'insolvency'] ['external Administration' 'trust Property' "liquidators' Powers" 'receivers and Managers' 'trustee Company in Liquidation']

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Procedural Posture

Application for Appointment of Receivers and Managers / Interlocutory Orders

Legal Issues

  1. 1 ['Whether the Court should appoint the liquidators as receivers and managers of the trust property of the Mooney Family Trust' 'Extent of liquidators’ powers to deal with trust property when trustee company is disqualified and in liquidation']

Ratio Decidendi

Because of uncertainty regarding the liquidators' power to handle trust property after the trustee company is disqualified, and following precedents, it is proper for the Court to appoint the liquidators as receivers and managers to enable them to deal with the property of the Mooney Family Trust.

Court Disposition

Application granted; liquidators appointed as receivers and managers of the trust property

Orders

  • ['Originating application treated as originating process with applicants as plaintiffs and respondents as defendants' 'Leave to move on interlocutory relief instanter granted' 'Service in respect of interlocutory application dispensed with' "Leave granted to plaintiffs to begin and continue proceeding in relation to...