Lucchese & Anor as trustee for the Neville Collis Family Trust v Collis & Anor [2005] NSWSC 1337

Lucchese & Anor as trustee for the Neville Collis Family Trust v Collis & Anor [2005] NSWSC 1337

The second defendant, as a former trustee/director, was liable to account for, and transfer to the plaintiffs, the value of unaccounted trust assets or the proceeds of their sale, with interest from specified dates, due to his unauthorised dealings and failure to account. The first defendant was not liable due to full cooperation and accounting.

Parties
Plaintiffs: Domenico Lucchese and Marjorie Jean McBurnie as trustees for the Neville Collis Family Trust; First Defendant: Murray Neville Collis; Second Defendant: Ian Collis
Jurisdiction
Australia
Judgment Date
13 December 2005
Procedural Posture
Trust Assets Recovery / Extempore Judgment Following Final Hearing
Outcome
Orders for the second defendant to transfer the specified sums (with interest) to the plaintiffs within 28 days for various trust assets and funds; costs orders as between plaintiffs and defendants; plaintiffs to bring short minutes of order to give effect to reasons.
Legal Topics
Trust Property, Accounting for Trust Assets, Trustee Duty, Recovery of Trust Assets, Breach of Trust
Equity Trusts Trust Property Accounting for Trust Assets Trustee Duty Recovery of Trust Assets Breach of Trust

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 Party arguments 2 Amounts and remedies 12
Sign in to unlock

Parties

Domenico Lucchese and Marjorie Jean McBurnie as trustees for the Neville Collis Family Trust

Plaintiffs

Murray Neville Collis

First Defendant

Ian Collis

Second Defendant

Procedural Posture

Trust Assets Recovery / Extempore Judgment Following Final Hearing

Legal Issues

  1. 1 Entitlement of trustees to recover trust assets from former trustee/directors
  2. 2 Failure to account for trust assets by former trustee/directors
  3. 3 Liability for unaccounted funds and proceeds of sale of trust property

Ratio Decidendi

The second defendant, as a former trustee/director, was liable to account for, and transfer to the plaintiffs, the value of unaccounted trust assets or the proceeds of their sale, with interest from specified dates, due to his unauthorised dealings and failure to account. The first defendant was not liable due to full cooperation and accounting.

Court Disposition

Orders for the second defendant to transfer the specified sums (with interest) to the plaintiffs within 28 days for various trust assets and funds; costs orders as between plaintiffs and defendants; plaintiffs to bring short minutes of order to give effect to reasons.

Orders

  • Second defendant to transfer to plaintiffs: $25,000 plus interest from 30 September 2002 within 28 days (vehicle 2)
  • Second defendant to transfer $48,000 plus interest from 1 January 2003 within 28 days (vehicle 3)