In the matter of The Project Volar Creditors’ Trust established in the administration of Virgin Australia Holdings Ltd & Ors [2021] NSWSC 425

In the matter of The Project Volar Creditors’ Trust established in the administration of Virgin Australia Holdings Ltd & Ors [2021] NSWSC 425

The Court held that, in the circumstances of scale and complexity, and considering no opposition or prejudice, it was expedient and appropriate to confer on the Trustees the powers sought under ss 63 and 81 of the Trustee Act 1925 (NSW), particularly to allow the use of the Halo Platform for administration, communication, meetings, claim adjudication and payment processes, and to override or supplement the Trust Deed where necessary, in the best interests of Trust Creditors.

Jurisdiction
Australia
Judgment Date
27 April 2021
Procedural Posture
Application for Judicial Advice and Additional Trustee Powers / Orders Made After Inter Partes Hearing
Outcome
Orders made as sought by Trustees in accordance with the draft short minutes of order.
Legal Topics
['judicial Advice to Trustee' "trustee's Powers and Directions" "management of Creditors' Trust" 'use of Digital Platforms in Trust Administration' 'exercise of Court Powers Under Trustee Act']
['equity' 'corporations Law'] ['judicial Advice to Trustee' "trustee's Powers and Directions" "management of Creditors' Trust" 'use of Digital Platforms in Trust Administration' 'exercise of Court Powers Under Trustee Act']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application for Judicial Advice and Additional Trustee Powers / Orders Made After Inter Partes Hearing

Legal Issues

  1. 1 ["Whether the Court should grant judicial advice and confer additional powers to trustees under ss 63 and 81 of the Trustee Act 1925 (NSW) to facilitate administration of the Project Volar Creditors' Trust, particularly regarding electronic communication, proof lodgement, and distribution using the Halo Platform."]

Ratio Decidendi

The Court held that, in the circumstances of scale and complexity, and considering no opposition or prejudice, it was expedient and appropriate to confer on the Trustees the powers sought under ss 63 and 81 of the Trustee Act 1925 (NSW), particularly to allow the use of the Halo Platform for administration, communication, meetings, claim adjudication and payment processes, and to override or supplement the Trust Deed where necessary, in the best interests of Trust Creditors.

Court Disposition

Orders made as sought by Trustees in accordance with the draft short minutes of order.

Orders

  • ['Trustees authorised and directed to use the Halo Platform for communications, lodgement and adjudication of claims, meetings, and distribution of Trust property.' 'Trustees conferred additional powers under s 81 to override or supplement certain Trust Deed provisions as set out in orders, including electronic...