Donnelly (Liquidator), in the matter of Dunjey Property Pty Ltd (in liq)

In the matter of Dunjey Property Pty Ltd (in liq), the plaintiffs, Matthew James Donnelly and Sean Holmes, sought orders for the appointment of receivers and managers over the assets of multiple trusts to ensure the proper discharge of the company's liabilities. The court was required to determine whether the company, Dunjey Property Pty Ltd, had only conducted business as the trustee of the trusts, thereby justifying the proposed appointment. The central issue was whether the company's assets and liabilities were exclusively held or incurred in its capacity as trustee, allowing for the proposed receivers to manage the assets for the trusts' creditors.

The court found that the company had indeed only acted as a trustee for the trusts, with no evidence suggesting it had any other business activities or held assets outside of its trustee capacity. The financial statements, bank accounts, and declarations of trust supported this conclusion. Given that the company's liabilities were also incurred in its role as trustee, the court was satisfied that appointing receivers would not unjustly prejudice non-creditors. The court ruled in favor of the liquidators, confirming their right to act as receivers and managers to realise the trust assets for the benefit of the trusts' creditors. The orders provided detailed instructions on the receivers' powers and responsibilities, ensuring that the assets were managed correctly and the creditors' claims were addressed appropriately.