Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 2) [2019] NSWSC 1744

Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 2) [2019] NSWSC 1744

The Court gave directions approving the settlement in the form agreed by the parties because directions to a court-appointed receiver are analogous to judicial advice to a trustee, no party's interests would be prejudiced, the settlement was shown by confidential counsel's advice to be a proper one on which it was reasonable for the Receiver to act, and the negotiated payments of the plaintiffs' and Attorney-General's costs from the Rosewood companies' assets were justified and appropriate.

Jurisdiction
Australia
Judgment Date
07 November 2019
Procedural Posture
Application for Approval of Settlement and Directions to Court Appointed Receiver and Manager / Procedural and Other Rulings
Outcome
Orders made approving the settlement by giving directions in the form agreed between the parties.
Legal Topics
['court Appointed Receiver and Manager' 'approval of Settlement' 'judicial Advice' 'administration Proceedings' 'charitable Trust' 'payment of Costs From Trust Assets']
['equity' 'costs' 'trusts' 'receivers and Managers'] ['court Appointed Receiver and Manager' 'approval of Settlement' 'judicial Advice' 'administration Proceedings' 'charitable Trust' 'payment of Costs From Trust Assets']

Case Brief

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Procedural Posture

Application for Approval of Settlement and Directions to Court Appointed Receiver and Manager / Procedural and Other Rulings

Legal Issues

  1. 1 ['Whether the Court should approve, or give directions concerning, a Deed of Settlement and Release where aspects of the settlement were conditional on approval from the Court.' 'Whether directions to a court-appointed receiver are analogous to judicial advice or approval given to trustees in administration proceedings.' "Whether payment of the plaintiffs' costs and the Attorney-General's costs out of the assets of the Rosewood companies was justified." 'Whether the receiver would be justified in entering settlement deeds excluding clauses requiring Court approval.']

Ratio Decidendi

The Court gave directions approving the settlement in the form agreed by the parties because directions to a court-appointed receiver are analogous to judicial advice to a trustee, no party's interests would be prejudiced, the settlement was shown by confidential counsel's advice to be a proper one on which it was reasonable for the Receiver to act, and the negotiated payments of the plaintiffs' and Attorney-General's costs from the Rosewood companies' assets were justified and appropriate.

Court Disposition

Orders made approving the settlement by giving directions in the form agreed between the parties.

Orders

  • ['As to the Motion filed 5 September 2019 (Employment Entitlements Settlement): a direction that the Applicant Receiver and Manager would be justified in entering into a Deed in the same terms as the Employment Entitlements Deed (Exhibit JAL-129 to the 18 October 2019 affidavit of Jamieson Louttit) BUT excluding...