Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed) v Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed), in the matter of Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed) (No 4) 2017 FCA 1133

Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed) v Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed), in the matter of Equititrust Ltd (In Liq) (Receiver Appointed) (Receivers and Managers Appointed) (No 4) 2017 FCA 1133

It is appropriate under the Trusts Act 1973 (Qld) ss 59 and 96 to order separate representation for Equititrust Ltd acting in different capacities, with its interests as responsible entity represented by the liquidators and its interests in its own capacity represented by Liberty Mutual Insurance Company; personal service on all unitholders is impractical and unnecessary; the liquidators are empowered and justified in delegating conduct of the defence to Liberty; confidentiality order is appropriate.

Jurisdiction
Australia
Judgment Date
21 September 2017
Procedural Posture
Interlocutory Application in Liquidation Proceeding / Application for Directions/order on Representation and Service
Outcome
Application granted; orders made as sought.
Legal Topics
['trustee Representation' 'judicial Advice' 'conflicts of Interest' 'liquidation Procedure']
['corporations' 'trusts' 'insolvency'] ['trustee Representation' 'judicial Advice' 'conflicts of Interest' 'liquidation Procedure']

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Procedural Posture

Interlocutory Application in Liquidation Proceeding / Application for Directions/order on Representation and Service

Legal Issues

  1. 1 ['Whether it is appropriate to order separate representation for Equititrust Ltd acting in different capacities' 'Whether service of the amended interlocutory application on all unitholders of the fund is required' 'Whether the liquidators have power and are justified in delegating conduct of defence to Liberty Mutual Insurance Company' 'Confidentiality of certain evidence']

Ratio Decidendi

It is appropriate under the Trusts Act 1973 (Qld) ss 59 and 96 to order separate representation for Equititrust Ltd acting in different capacities, with its interests as responsible entity represented by the liquidators and its interests in its own capacity represented by Liberty Mutual Insurance Company; personal service on all unitholders is impractical and unnecessary; the liquidators are empowered and justified in delegating conduct of the defence to Liberty; confidentiality order is appropriate.

Court Disposition

Application granted; orders made as sought.

Orders

  • ['Separate representation for Equititrust Ltd in different capacities (liquidators for responsible entity; Liberty for own capacity)' "Documents to Equititrust Ltd in own capacity may be served on lawyers appointed by Liberty, firm to be notified to Applicant's lawyers within 14 days" 'Service of Amended...