In the matter of J & Lee Property Investment Group Pty Ltd (in Liquidation) [2022] NSWSC 1314

In the matter of J & Lee Property Investment Group Pty Ltd (in Liquidation) [2022] NSWSC 1314

The receivers were justified in treating certain properties as assets of the Trust, and their remuneration claims are reasonable. A charging order is justly made in favour of Nyman Gibson Miralis Lawyers. Distribution of the Trust funds and discharge of receivers are appropriate, with surplus paid to the Court.

Parties
Receiver, Liquidator, Plaintiff: Peter Hillig; Receiver, Plaintiff: Michael John Morris Smith; Trustee: J & Lee Property Investment Group Pty Ltd (in Liquidation); Applicant, Judgment Creditor, Interested Party: Nyman Gibson Miralis Lawyers
Jurisdiction
Australia
Judgment Date
19 September 2022
Procedural Posture
Equity, Corporations / Principal Judgment, Orders After Hearing
Outcome
Orders made as per Court declarations; receivers discharged; charging order granted; Interlocutory Process of 8 December 2021 dismissed with no order as to costs.
Legal Topics
Receivership, Remuneration, Unit Trust, Charging Order, Liquidation, Trustee Removal
Corporations Law Equity Trusts Receivership Remuneration Unit Trust Charging Order Liquidation +1 more

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 2 Authorities cited 4 Party arguments 2 Amounts and remedies 10
Sign in to unlock

Parties

Peter Hillig

Receiver, Liquidator, Plaintiff

Michael John Morris Smith

Receiver, Plaintiff

J & Lee Property Investment Group Pty Ltd (in Liquidation)

Trustee

Nyman Gibson Miralis Lawyers

Applicant, Judgment Creditor, Interested Party

Procedural Posture

Equity, Corporations / Principal Judgment, Orders After Hearing

Legal Issues

  1. 1 Whether receivers are justified in treating properties as trust assets
  2. 2 Entitlement to remuneration for receivers
  3. 3 Whether charging order should be made in favour of creditor

Ratio Decidendi

The receivers were justified in treating certain properties as assets of the Trust, and their remuneration claims are reasonable. A charging order is justly made in favour of Nyman Gibson Miralis Lawyers. Distribution of the Trust funds and discharge of receivers are appropriate, with surplus paid to the Court.

Court Disposition

Orders made as per Court declarations; receivers discharged; charging order granted; Interlocutory Process of 8 December 2021 dismissed with no order as to costs.

Orders

  • Receivers justified in treating Mascot and Vineyard property as trust assets.
  • Receivers' remuneration determined as $41,487.50, $20,128.90, and $11,000.00 (inclusive of GST).