19 Oct 2012
ROCKET SURGERY LIMITED V GOODWIN HC DUN CIV-2012-412-000335
- Citation
- openlaw-7afc4f8c_1d2a_4dd5_8557_b91ff0a1c9db.pdf
- Court
- High Court
The Court found the parties' conduct established a trust relationship under which Rocket Surgery acted as trustee; s64 Trustee Act 1956 empowered the Court to authorise a sale because Rocket Surgery could not otherwise effect a sale due to the impasse and an implied reasonable holding period had expired; s50 did not apply; accordingly the Court ordered sale by tender and set detailed sale terms, payment priorities and an audit mechanism, and awarded costs to Rocket Surgery on a 2B scale plus 25% uplift.