A liquidator who contests the existence of a trust, rather than administering trust assets, must look to the assets of the company for costs and remuneration and cannot charge those costs against trust funds held in court. The principle that costs of necessary parties are a first charge on a fund administered by the court applies only where the court is actively administering the fund, not where a party seeks determination of pre-existing legal rights. House v The King principles do not apply to appeals from an Associate Justice to a trial division judge where the appeal is by way of rehearing de novo.
The full text is available to signed-in members, including the 3 later cases that cite this judgment.