BARR V. TREVITT 2/1925

BARR V. TREVITT 2/1925

Barr, as director, received £250 from company funds in a manner contrary to the company constitution (Article 5) and Companies Act 1899 (NSW), without sufficient evidence of restoration to company coffers or exoneration. Book entries and explanations were inadequate. The appeal was dismissed as hopeless and the...

Source-derived case information.

Parties
Appellant: Joseph Percival Barr; Respondent: Leslie Loftus Trevitt
Jurisdiction
Australia
Procedural Posture
Appeal / Judgment
Outcome
appeal dismissed with costs
Legal Topics
Director Misfeasance, Company Liquidation, Company Purchasing Own Shares, Protection of Trade Creditors, Ultra Vires Acts
Corporate Law Director Misfeasance Company Liquidation Company Purchasing Own Shares Protection of Trade Creditors Ultra Vires Acts

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Parties

Joseph Percival Barr

Appellant

Leslie Loftus Trevitt

Respondent

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether Barr, a director, wrongfully received company funds in excess of share value under a prohibited transaction
  2. 2 Whether book entries and explanations sufficed as evidence of repayment or exoneration for misfeasance
  3. 3 Application of s.162 Companies Act 1899 (NSW) for liability for wrongful appropriations by company directors

Ratio Decidendi

Barr, as director, received £250 from company funds in a manner contrary to the company constitution (Article 5) and Companies Act 1899 (NSW), without sufficient evidence of restoration to company coffers or exoneration. Book entries and explanations were inadequate. The appeal was dismissed as hopeless and the order to repay stood.

Court Disposition

appeal dismissed with costs

Orders

  • Barr is to repay with interest £250 to the company under s.162 Companies Act 1899 (NSW)
  • No order for repayment of £361/12/4 as no cross-appeal or notice was lodged