Horwath Corporate Pty Ltd v Huie [1999] NSWSC 583

Horwath Corporate Pty Ltd v Huie [1999] NSWSC 583

The court declined to appoint an independent liquidator or to bring the trust under court administration, as the evidence did not displace the trustee's entitlement to realise assets under the trust deed and the applicant's objectives were substantially met by the trustee's undertaking to seek the court’s direction...

Source-derived case information.

Parties
Plaintiff: Horwath Corporate Pty Ltd; Defendant: Jacqueline Huie
Jurisdiction
Australia
Judgment Date
01 June 1999
Procedural Posture
Equity / Interlocutory (notice of Motion to Appoint Liquidator)
Outcome
Notice of motion dismissed without prejudice
Legal Topics
Unit Trust Winding Up, Court Supervision of Trusts, Appointment of Liquidator, Trust Termination
Corporations Equity Trust Law Unit Trust Winding Up Court Supervision of Trusts Appointment of Liquidator Trust Termination

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Parties

Horwath Corporate Pty Ltd

Plaintiff

Jacqueline Huie

Defendant

Procedural Posture

Equity / Interlocutory (notice of Motion to Appoint Liquidator)

Legal Issues

  1. 1 Whether the court should appoint an independent liquidator to wind up the trust under court direction
  2. 2 Whether circumstances justify displacing the trustee under the trust deed

Ratio Decidendi

The court declined to appoint an independent liquidator or to bring the trust under court administration, as the evidence did not displace the trustee's entitlement to realise assets under the trust deed and the applicant's objectives were substantially met by the trustee's undertaking to seek the court’s direction before distribution.

Court Disposition

Notice of motion dismissed without prejudice

Orders

  • Dismissal of notice of motion of 1 June 1999 without prejudice for a similar motion to be filed should circumstances alter
  • Costs of the trustee to be paid out of the fund on the trustee basis