Warea Pty Ltd & Anor v Waterloo Industries Pty Ltd t/as Deltrite Financial Services & Anor [1986] FCA 121

Warea Pty Ltd & Anor v Waterloo Industries Pty Ltd t/as Deltrite Financial Services & Anor [1986] FCA 121

No necessity or reasonable need was shown for the fifth respondent to access the trust fund for legal costs at this stage, as she has other funds available. Mere inconvenience is insufficient to warrant variation of the Mareva injunction.

Jurisdiction
Australia
Judgment Date
26 March 1986
Procedural Posture
Application to Vary Injunction (mareva Injunction) / Ex Tempore Judgment on Application to Vary Injunction
Outcome
Application to vary injunction is dismissed.
Legal Topics
['mareva Injunction' 'trustee Indemnity' 'costs']
['equity' 'trusts' 'injunctions'] ['mareva Injunction' 'trustee Indemnity' 'costs']

Case Brief

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Procedural Posture

Application to Vary Injunction (mareva Injunction) / Ex Tempore Judgment on Application to Vary Injunction

Legal Issues

  1. 1 ['Whether the fifth respondent should be allowed access to trust funds for payment of legal costs under a Mareva injunction' 'Whether the vehicle in question is trust property']

Ratio Decidendi

No necessity or reasonable need was shown for the fifth respondent to access the trust fund for legal costs at this stage, as she has other funds available. Mere inconvenience is insufficient to warrant variation of the Mareva injunction.

Court Disposition

Application to vary injunction is dismissed.

Orders

  • ['The application to vary the injunction be dismissed.' 'The costs of the first and second applicants in resisting this application be costs of those applicants in the principal proceedings, as between the applicants and the fifth respondent.']