Amir Ashrafinia v Mohammad Reza Ashrafinia; Parvaneh Karami Fakhrabadi v Mohammad Reza Ashrafinia

[2013] NSWSC 1442

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. TRUSTS - breach of trust - Barnes v Addy knowing receipt or knowing assistance claims against the directors of the corporate trustee and third parties - whether Barnes v Addy knowledge requirements satisfied.
1. CORPORATIONS - breach of directors' duties by the directors of the corporate -trustee - whether directors acted honestly and reasonably and should be excused from personal liability for breaches of duties under Corporations Act 2001 s 1318.
1. PROCEDURE - limitation period - whether limitation period in relation to the pleaded breaches of trust expired - when did the relevant limitation period start running - whether limitation period in relation to the claim for constructive trust over the food business expired or whether the doctrine of laches operates.
1. CONTRACTS - two brothers, directors of the corporate trustee, bought several properties as co-owners - whether the properties purchased with trust funds - whether the properties owned by the brothers beneficially or on behalf of the trust - whether the brothers entered into a joint venture agreement in relation to the properties - whether one of the brothers misapplied proceeds from the joint venture properties to his own benefit and should be required to refund the misapplied amounts.