The Supreme Court of New South Wales (Richmond J) has delivered judgment in David & Ros Carr Holdings Pty Ltd v Ritossa [2024] NSWSC 1125, in which Amir Chowdhury appeared (led by Peter Wood and Tom O’Brien and instructed by Arnold Bloch Leibler) for the successful first and second defendants.

The plaintiffs sought declarations and orders for, among other things, the distribution of net assets of a unit trust to the unit holders and the termination of that trust. The plaintiffs also sought a declaration that the unit trust was terminable on reasonable notice by any of the unit holders.

In the alternative, the plaintiffs contended that the affairs of the corporate trustee had been conducted oppressively and sought orders under ss 232 and 233 of the Corporations Act for the winding up of the trustee and the unit trust. In the further alternative the plaintiffs sought the appointment of a receiver to the unit trust pursuant to s 67 of the Supreme Court Act or the inherent jurisdiction of the Court.

Each of the plaintiffs’ claims was dismissed with costs.

See the full judgment here.