21 Jul 2009
MORRISON KENT V THE COMMERCE COMMISSION AND ORS HC AK CIV-2009-404-001553
- Citation
- openlaw-8a3077a9_d0e1_4e0b_9d6f_3278f6181395.pdf
- Court
- High Court
On the evidence — including sworn affidavit of Mr Ross, the consistent segregation of ticket receipts into a dedicated 01 account, and the intended purpose to preserve funds for refunds — the court was satisfied the three certainties were met and the funds in the 01 account were held on trust for ticket holders; consequently the funds are not part of the company's general assets and must be vested with the liquidators to determine valid refund claims.