Trio Capital Limited (Admin App) V Act Superannuation Management Pty Ltd & Ors [2010] Nswsc 286
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NEW SOUTH WALES SUPREME COURT
CITATION:
Trio Capital Limited (Admin App) v ACT Superannuation Management Pty Ltd & Ors [2010] NSWSC 286
JURISDICTION:
Equity Division
Corporations List
FILE NUMBER(S):
2010/011359
HEARING DATE(S):
19 March 2010
JUDGMENT DATE:
16 April 2010
PARTIES:
Stephen James Parbery, Neil Singleton & Nicholas Martin in their capacity as Joint and Several Administrators of Trio Capital Limited (Administrators appointed) and others as defined in the schedule (Plaintiffs)
ACT Superannuation Management Pty Ltd (First Defendant)
Z. Rocksandic representing Millhouse IAG Private Equity Fund (Second Defendant)
R. & E. Thornton, trustees for Raid Provident Fund and representing ARP Growth Fund (Third Defendants)
G. & K. Kolsky, representing Asttar Portfolio Service (Fourth Defendants)
Silverhall Holdings Pty Ltd, representing MARQ Capital Diversified Property Fund (Fifth Defendant)
Huntley Management Pty Ltd, responsible entity of MillhouseIAG Private Equity Fund (Sixth Defendant)
JUDGMENT OF:
Palmer J
LOWER COURT JURISDICTION:
Not Applicable
LOWER COURT FILE NUMBER(S):
Not Applicable
LOWER COURT JUDICIAL OFFICER:
Not Applicable
COUNSEL:
A.S. Bell, R. Foreman (Plaintiffs)
I.M. Jackman SC (First Defendant)
SOLICITORS:
Norton Rose (Plaintiffs)
Clayton Utz (First Defendant)
Addisons, submitting appearance (Second Defendant)
Kemp Strang, submitting appearance (Third Defendants)
Bartier Perry (Fourth Defendants)
A.J. Jefferies (Fifth Defendant)
Piper Alderman (Sixth Defendant)
CATCHWORDS:
CORPORATIONS – MANAGED INVESTMENT SCHEME – WINDING UP – JUST AND EQUITABLE – Responsible entity insolvent – funds of Schemes probably lost in fraudulent investments – Schemes inherently improvident – considerations of public policy.
LEGISLATION CITED:
Corporations Act 2001 (Cth) – s 168, s 436A, s 447D, s 601FS, s 601KA, s 601KB, s 601KE, s 601NC, s 601ND
CATEGORY:
Principal...
CITATION:
Trio Capital Limited (Admin App) v ACT Superannuation Management Pty Ltd & Ors [2010] NSWSC 286
JURISDICTION:
Equity Division
Corporations List
FILE NUMBER(S):
2010/011359
HEARING DATE(S):
19 March 2010
JUDGMENT DATE:
16 April 2010
PARTIES:
Stephen James Parbery, Neil Singleton & Nicholas Martin in their capacity as Joint and Several Administrators of Trio Capital Limited (Administrators appointed) and others as defined in the schedule (Plaintiffs)
ACT Superannuation Management Pty Ltd (First Defendant)
Z. Rocksandic representing Millhouse IAG Private Equity Fund (Second Defendant)
R. & E. Thornton, trustees for Raid Provident Fund and representing ARP Growth Fund (Third Defendants)
G. & K. Kolsky, representing Asttar Portfolio Service (Fourth Defendants)
Silverhall Holdings Pty Ltd, representing MARQ Capital Diversified Property Fund (Fifth Defendant)
Huntley Management Pty Ltd, responsible entity of MillhouseIAG Private Equity Fund (Sixth Defendant)
JUDGMENT OF:
Palmer J
LOWER COURT JURISDICTION:
Not Applicable
LOWER COURT FILE NUMBER(S):
Not Applicable
LOWER COURT JUDICIAL OFFICER:
Not Applicable
COUNSEL:
A.S. Bell, R. Foreman (Plaintiffs)
I.M. Jackman SC (First Defendant)
SOLICITORS:
Norton Rose (Plaintiffs)
Clayton Utz (First Defendant)
Addisons, submitting appearance (Second Defendant)
Kemp Strang, submitting appearance (Third Defendants)
Bartier Perry (Fourth Defendants)
A.J. Jefferies (Fifth Defendant)
Piper Alderman (Sixth Defendant)
CATCHWORDS:
CORPORATIONS – MANAGED INVESTMENT SCHEME – WINDING UP – JUST AND EQUITABLE – Responsible entity insolvent – funds of Schemes probably lost in fraudulent investments – Schemes inherently improvident – considerations of public policy.
LEGISLATION CITED:
Corporations Act 2001 (Cth) – s 168, s 436A, s 447D, s 601FS, s 601KA, s 601KB, s 601KE, s 601NC, s 601ND
CATEGORY:
Principal...