Perpetual Trustee Company Limited in its capacity as trustee of the HIH NZ Converting Notes 1998 Trust [2011] NSWSC 1091

Perpetual Trustee Company Limited in its capacity as trustee of the HIH NZ Converting Notes 1998 Trust [2011] NSWSC 1091

The trustee is justified in commencing and prosecuting the proposed New South Wales proceedings and continuing the New Zealand proceedings, and in accepting funding for these proceedings on the proposed terms; however, should the New Zealand court decline to stay the NZ proceedings, further advice ought to be sought before continuing NSW proceedings.

Jurisdiction
Australia
Judgment Date
07 September 2011
Procedural Posture
Application for Judicial Advice (trusts) / Judgment on Application
Outcome
Application for judicial advice granted.
Legal Topics
['judicial Advice to Trustee' 'litigation Funding' 'institution and Continuation of Legal Proceedings' 'choice of Forum' 'exclusive Jurisdiction Clause']
['equity' 'trusts'] ['judicial Advice to Trustee' 'litigation Funding' 'institution and Continuation of Legal Proceedings' 'choice of Forum' 'exclusive Jurisdiction Clause']

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Procedural Posture

Application for Judicial Advice (trusts) / Judgment on Application

Legal Issues

  1. 1 ['Whether the trustee would be justified in bringing and prosecuting proposed New South Wales proceedings and continuing to prosecute New Zealand proceedings' 'Whether the trustee would be justified in accepting litigation funding for those proceedings' 'Whether the trustee would be justified in continuing New South Wales proceedings if no stay is granted in New Zealand' 'Whether the commencement of parallel proceedings constitutes abuse of process']

Ratio Decidendi

The trustee is justified in commencing and prosecuting the proposed New South Wales proceedings and continuing the New Zealand proceedings, and in accepting funding for these proceedings on the proposed terms; however, should the New Zealand court decline to stay the NZ proceedings, further advice ought to be sought before continuing NSW proceedings.

Court Disposition

Application for judicial advice granted.

Orders

  • ['Perpetual Trustee Company Pty Limited would be justified in bringing the proposed New South Wales proceedings and continuing to prosecute the New Zealand proceedings and doing all things necessary or reasonably incidental to conducting each of those proceedings.' 'Perpetual Trustee Company Pty Limited would be...