Re Dawning
Supreme Court of Victoria
Hetyey AsJ
28/10/2022
[2022] VSC 641
Companies — Winding up — Just and equitable ground — Oppression — Deadlock — Two companies and a unit trust established to conduct a property investment and development business — Breakdown of trust and confidence — Intractable deadlock preventing companies from operating effectively — Whether conduct oppressive — Whether winding up on just and equitable ground justified — Whether ‘some other remedy’ available — Concurrent action by lender associated with plaintiff to recover debts owed by companies — Whether winding up application brought as an abuse of process — Whether plaintiff had unclean hands — Corporations Act 2001 (Cth), ss 232, 233(1)(h), 461(1)(f), 461(1)(k), 467(4)
Companies — Winding up — Trustee — One company in which oppression occurred was trustee of unit trust — Power to order winding up of trust — Whether orders should be made for appointment of receiver and manager of assets of unit trust — Corporations Act 2001 (Cth), ss 53, 232, 233(1)(h), 461(1)(f), 461(1)(k), 467(4)
Read the judgment here.