Trustees rights on removal (indemnification and exoneration)

Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 If a corporate trustee is removed as trustee by the operation of a disqualification clause in the trust deed, the position is as follows: (i) notwithstanding the appointment of a new trustee, as the former trustee, it retains its right of indemnity and/or exoneration (described […]

08, 25, 2015
Comments Off on Trustees rights on liquidation (indemnification and exoneration)

By whiggs

Trustees, Trusts & Trustee Law

Trustees rights on liquidation (indemnification and exoneration)

Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 A corporate trustee enters liquidation, its position is as follows: (i) its right of indemnity, or exoneration, is retained (at [16]); (ii) it continues to have the right to meet creditors’ claims related to any liabilities incurred by it in its capacity as trustee, out of the […]

08, 25, 2015
Comments Off on Trustees rights generally (indemnification and exoneration)

By whiggs

Trustees, Trusts & Trustee Law

Trustees rights generally (indemnification and exoneration)

Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 A corporate trustee is acting properly in its capacity as trustee, it has the following rights (at [14]): (i) when a corporate trustee incurs a liability on behalf of the trust, it has a right of indemnity out of the trust assets and retains an equitable […]

08, 16, 2015
Comments Off on Review sites, testimonials and chat rooms as evidence to prove your case in court. Sorry, no way!

By whiggs

Evidence

Review sites, testimonials and chat rooms as evidence to prove your case in court. Sorry, no way!

In Briginshaw v Briginshaw [1938] HCA 34; (1938) 60 CLR 336 at 361-362, Dixon J stated: “[W]hen the law requires the proof of any fact, the tribunal must feel an actual persuasion of its occurrence or existence before it can be found. It cannot be found as a result of a mere mechanical comparison of […]