Application by Perpetual Limited ACN 000 431 827; C & L Cameron Pty Limited ACN 001 263 458 & Singh

Perpetual Limited, C & L Cameron Pty Limited and Singh applied to the court for payment out of court of funds deposited with the court under the Trustee Act Part IV. The applicants sought to have the funds returned to them, arguing that the conditions for the deposit had been met and the funds were no longer required. The court was required to determine whether the matters necessary to justify payment out of court had been established by the applicants.

The court noted that the conditions for the deposit of funds under the Trustee Act Part IV were that the funds were required for the purpose of satisfying a liability or for the preservation of the assets of the estate. The court further noted that the applicants had provided evidence that the conditions for the deposit had been met, and that the funds were no longer required. The court was satisfied that the applicants had established the necessary matters to justify payment out of court.

Accordingly, the court ordered that the funds be paid out of court to the applicants. The court found that the applicants had discharged the onus of establishing the necessary matters to justify payment out of court, and that the funds could be returned to the applicants. The court made the order for payment out of court to the applicants, and the applicants were able to recover the funds deposited with the court.