JUDICIAL ADVICE — application by administrator of company for judicial advice and directions under ss 447D and 447A of the Corporations Act 2001 (Cth) — in the alternative, application for directions under ss 63 and 81 of the Trustee Act 1925 (NSW) to the extent that administrator is a bare trustee — HELD — it was appropriate for judicial advice to be given under s 447D as to the manner in which the assets of the company should be dealt with by the administrator and the administrator's claim for remuneration — it was inappropriate for orders to be made which would determine competing parties' claim to the artworks in question — EQUITY — whether statutory lien or equitable lien to be imposed over artworks that are property of investors, not company — whether imposition of equitable lien over assets of a regulated self-managed superannuation fund will result in those assets losing their 'complying fund status' under reg 13.14 of the Superannuation Industry (Supervision) Regulations 1994 (Cth) — whether amount of work undertaken by the administrator in the administration of the company was excessive or unnecessary — HELD — statutory lien over artworks the subject of lease to the company — equitable lien imposed to secure reimbursement of administrator's reasonable costs and expenses — reg 13.14 not applicable to an equitable lien imposed by the court — work undertaken by administrator was reasonable in the circumstances
Case Details
Citation[2011] NSWSC 164
CourtNSWSC
JurisdictionNew South Wales
Unlock so much more with Barrister AI
The full text is available to signed-in members, including the 16 later cases that cite this judgment.
2 of the 16 citing cases carry a classified treatment. How each court treated it is available to signed-in members.
