Westfield QLD No. 1 Pty Limited & Anor v Lend Lease Real Estate Investments Limited & Ors [2008] NSWSC 516

Westfield QLD No. 1 Pty Limited & Anor v Lend Lease Real Estate Investments Limited & Ors [2008] NSWSC 516

The court declined to order the winding up of the trusts or appointment of receivers because the powers under Part 54 r 3 UCPR, inherent jurisdiction, and s 81 of the Trustee Act do not authorize the court to terminate a trust outside the circumstances provided for in the trust instrument; and because there was no established deadlock or detriment to beneficiaries, with alternative mechanisms available for resolution.

Parties
First Plaintiff: Westfield QLD No. 1 Pty Limited; Second Plaintiff: Westfield QLD No. 2 Pty Limited; First Defendant: Lend Lease Real Estate Investments Limited; Second Defendant: Cairns Central Limited; Third Defendant: Perpetual Limited; Fourth Defendant: Perpetual Trustees Victoria Limited
Jurisdiction
Australia
Judgment Date
29 May 2008
Procedural Posture
Equity Proceedings / Judgment on Contested Application for Orders; Final Decision
Outcome
Proceedings dismissed
Legal Topics
Trusts and Trustees, Powers of Trustee, Administration of Trusts, Receivers, Court's Inherent Jurisdiction, Termination and Winding Up of Trusts
Equity Trusts Commercial Law Trusts and Trustees Powers of Trustee Administration of Trusts Receivers Court's Inherent Jurisdiction +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 3 Authorities cited 36 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Westfield QLD No. 1 Pty Limited

First Plaintiff

Westfield QLD No. 2 Pty Limited

Second Plaintiff

Lend Lease Real Estate Investments Limited

First Defendant

Cairns Central Limited

Second Defendant

Perpetual Limited

Third Defendant

Perpetual Trustees Victoria Limited

Fourth Defendant

Procedural Posture

Equity Proceedings / Judgment on Contested Application for Orders; Final Decision

Legal Issues

  1. 1 Whether the court has jurisdiction under Part 54 rule 3 of the Uniform Civil Procedure Rules 2005 (NSW), section 67 of the Supreme Court Act 1970 (NSW), its inherent jurisdiction, section 81 of the Trustee Act 1925 (NSW), or section 63 of the Trustee Act 1958 (Vic) to order the winding up of the trusts holding the Cairns Central Shopping Centre;
  2. 2 Whether circumstances existed justifying the intervention of the court in the management or winding up of the trusts;
  3. 3 Whether the suggested deadlock in management justified the orders sought;

Ratio Decidendi

The court declined to order the winding up of the trusts or appointment of receivers because the powers under Part 54 r 3 UCPR, inherent jurisdiction, and s 81 of the Trustee Act do not authorize the court to terminate a trust outside the circumstances provided for in the trust instrument; and because there was no established deadlock or detriment to beneficiaries, with alternative mechanisms available for resolution.

Court Disposition

Proceedings dismissed

Orders

  • Proceedings to be dismissed. Short minutes of order to be brought in; costs may be ordered.