Lords Holdings Pty Ltd v Brizzi [2004] NSWSC 371

Lords Holdings Pty Ltd v Brizzi [2004] NSWSC 371

There is no genuine dispute as to the existence of the debt arising from the Plaintiff's borrowing as trustee. The ground put forward—that the Plaintiff is not liable due to cessation as trustee—is legally untenable. Late evidence supporting other grounds is inadmissible as not filed within the statutory timeframe; the application is dismissed and costs ordered on an indemnity basis.

Jurisdiction
Australia
Judgment Date
30 April 2004
Procedural Posture
Originating Process / Judgment
Outcome
Originating Process dismissed
Legal Topics
['statutory Demand' 'trustee Liability' 'indemnity Costs']
['corporations Law' 'equity' 'trusts'] ['statutory Demand' 'trustee Liability' 'indemnity Costs']

Case Brief

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Procedural Posture

Originating Process / Judgment

Legal Issues

  1. 1 ['Whether evidence not filed within the time required by s.459G(2) of the Corporations Act may be admitted' 'Whether there is a genuine dispute as to the existence of the debt claimed in the statutory demand' 'Whether a trustee remains liable for debts incurred during its trusteeship after ceasing to be trustee']

Ratio Decidendi

There is no genuine dispute as to the existence of the debt arising from the Plaintiff's borrowing as trustee. The ground put forward—that the Plaintiff is not liable due to cessation as trustee—is legally untenable. Late evidence supporting other grounds is inadmissible as not filed within the statutory timeframe; the application is dismissed and costs ordered on an indemnity basis.

Court Disposition

Originating Process dismissed

Orders

  • ["Plaintiff to pay Defendant's costs on an indemnity basis"]