Munstermann v Rayward; Rayward v Munstermann (No 2) [2017] NSWSC 455
The loan account of Mr Rayward is to be taken as $114,283, inclusive of the agreed debiting of FBT, pursuant to the uncontested agreement made in November 2012, and no basis exists in these proceedings to set aside that agreement.
- Jurisdiction
- Australia
- Judgment Date
- 31 March 2017
- Procedural Posture
- Oppression Suit / Final Orders
- Outcome
- Final orders made resolving quantum of loan account, transfer of shares, and ancillary matters.
- Legal Topics
- ['oppression Remedy' "director's Loan Account" 'share Transfer' 'fringe Benefits Tax (fbt)']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Oppression Suit / Final Orders
Legal Issues
- 1 ["Quantum of director's loan account in third defendant" 'Whether agreement existed for FBT liability on car use to be debited to loan account' 'Effect of FBT charge and agreement on repayment amount']
Ratio Decidendi
The loan account of Mr Rayward is to be taken as $114,283, inclusive of the agreed debiting of FBT, pursuant to the uncontested agreement made in November 2012, and no basis exists in these proceedings to set aside that agreement.
Court Disposition
Final orders made resolving quantum of loan account, transfer of shares, and ancillary matters.
Orders
- ['By 6 April 2017, the first and second defendants to transfer their shares in QIA Group Pty Limited to the plaintiff, cause resignation and removal of first defendant as director and signatory, and pay $114,283 to QIA Group Pty Limited.' 'Plaintiff to pay $155,000 to first and second defendants upon transfer of...
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