Mirembe Pty Ltd v Craig Dangar [2009] NSWSC 1268

Mirembe Pty Ltd v Craig Dangar [2009] NSWSC 1268

NSW Finance & Leasing Pty Ltd, having knowingly received trust property in breach of trust, is liable to restore the outstanding amount to the trust, and an equitable charge is imposed over its assets to secure payment. Court orders for payment, charge, and costs are made against the company and its deed administrator.

Source-derived case information.

Parties
Plaintiff: Mirembe Pty Ltd as Trustee of Verna Stewart Superannuation Fund; First Defendant: Craig Gerard Dangar; Second Defendant: Deputy Dog Pty Ltd; Third Defendant: Meakin Pty Ltd; Fourth Defendant: NSW Finance & Leasing Pty Ltd; Fifth Defendant: Nicholas Crouch
Jurisdiction
Australia
Judgment Date
15 October 2009
Procedural Posture
Equity Breach of Trust / Final Hearing (undefended Basis)
Outcome
Judgment for the plaintiff against fourth and fifth defendants; equitable charge declared; costs awarded to plaintiff.
Legal Topics
Breach of Trust, Knowing Receipt, Barnes V Addy, Equitable Charge, Deed of Company Arrangement
Equity Trusts Company Law Breach of Trust Knowing Receipt Barnes V Addy Equitable Charge Deed of Company Arrangement

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Parties

Mirembe Pty Ltd as Trustee of Verna Stewart Superannuation Fund

Plaintiff

Craig Gerard Dangar

First Defendant

Deputy Dog Pty Ltd

Second Defendant

Meakin Pty Ltd

Third Defendant

NSW Finance & Leasing Pty Ltd

Fourth Defendant

Nicholas Crouch

Fifth Defendant

Procedural Posture

Equity Breach of Trust / Final Hearing (undefended Basis)

Legal Issues

  1. 1 Whether NSW Finance & Leasing Pty Ltd received monies in breach of trust with notice and is liable to restore them
  2. 2 Appropriate remedy given the Deed of Company Arrangement — entitlement to secured status and priority
  3. 3 Whether an equitable charge should be imposed

Ratio Decidendi

NSW Finance & Leasing Pty Ltd, having knowingly received trust property in breach of trust, is liable to restore the outstanding amount to the trust, and an equitable charge is imposed over its assets to secure payment. Court orders for payment, charge, and costs are made against the company and its deed administrator.

Court Disposition

Judgment for the plaintiff against fourth and fifth defendants; equitable charge declared; costs awarded to plaintiff.

Orders

  • The fourth defendant to pay the plaintiff the sum of $445,195.61
  • Declare the assets and undertaking of the fourth defendant are charged in equity with payment to plaintiff of said sum