In the matter of Asia Pacific Data Centre Limited [2018] NSWSC 817

In the matter of Asia Pacific Data Centre Limited [2018] NSWSC 817

The trustee was justified in submitting to the orders of the Court, save as to costs, because the relief in the related proceeding did not threaten trust assets, the dispute was in substance between unit holders, Next DC provided an effective contradictor, the trustee had no proper interest in asserting or disputing the alleged association, and active intervention by the trustee would be unlikely to add to the arguments while increasing costs borne by the trust.

Jurisdiction
Australia
Judgment Date
19 February 2018
Procedural Posture
Judicial Advice Concerning Trustee Conduct / Ex Tempore Principal Judgment on Application for Opinion, Advice and Direction
Outcome
The plaintiff would be justified in submitting to the orders of the Court, save as to costs, on the question of final relief in proceeding 2018/24961, and would be indemnified for its costs of the application out of trust assets.
Legal Topics
['judicial Advice' 'trustees' 'managed Investment Schemes' 'dispute Between Beneficiaries' 'responsible Entity Voting Entitlement']
['equity' 'trusts' 'corporations'] ['judicial Advice' 'trustees' 'managed Investment Schemes' 'dispute Between Beneficiaries' 'responsible Entity Voting Entitlement']

Case Brief

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Procedural Posture

Judicial Advice Concerning Trustee Conduct / Ex Tempore Principal Judgment on Application for Opinion, Advice and Direction

Legal Issues

  1. 1 ['Whether the trustee would be justified in submitting to the orders of the Court, save as to costs, on the question of final relief in proceeding 2018/24961.' 'Whether the trustee needed to take an active role in related proceedings concerning voting entitlement where the dispute was substantially between unit holders.']

Ratio Decidendi

The trustee was justified in submitting to the orders of the Court, save as to costs, because the relief in the related proceeding did not threaten trust assets, the dispute was in substance between unit holders, Next DC provided an effective contradictor, the trustee had no proper interest in asserting or disputing the alleged association, and active intervention by the trustee would be unlikely to add to the arguments while increasing costs borne by the trust.

Court Disposition

The plaintiff would be justified in submitting to the orders of the Court, save as to costs, on the question of final relief in proceeding 2018/24961, and would be indemnified for its costs of the application out of trust assets.

Orders

  • ['The plaintiff would be justified in submitting to the orders of the Court, save as to costs, on the question of final relief in proceeding 2018/24961.' 'The plaintiff be indemnified for its costs of this application out of the assets of the Asia Pacific Data Centre Trust.']