M.&.S. Investments (NSW) Pty Ltd v Affordable Demolitions and Excavations (No 3); M.&.S. Investments (NSW) Pty Ltd v Boutros; M.&.S. Investments (NSW) Pty Ltd v Carbone; M.&.S. Investments (NSW) Pty Ltd v Carbone;

In this case, M.&.S. Investments (NSW) Pty Ltd, acting as the trustee of a unit trust, brought proceedings against Affordable Demolitions and Excavations, and individual defendants, Boutros and Carbone, in the Supreme Court of New South Wales. The trustee sought to recover debts owed by the defendants, which arose from the operation of a construction business. The trustee alleged that the defendants were liable for debts incurred by the business and that they had engaged in transactions that were detrimental to the trustee's interests. The dispute centred around the enforceability of the debts, the responsibilities of the defendants in relation to the business, and whether the defendants had breached their fiduciary duties.

The legal issues before the court included the validity of the debts claimed, the extent of the defendants' liability, and whether the defendants had acted in breach of their fiduciary duties. The court had to determine whether the debts were legitimate and if the defendants were personally liable for them. It also had to assess whether the defendants had misused their positions for personal gain or acted in a manner that was inconsistent with their fiduciary responsibilities.

The court found that the debts claimed by the trustee were valid and enforceable. The defendants were held liable for these debts as they had been involved in the management and operation of the business. The court concluded that the defendants had breached their fiduciary duties by misusing their positions for personal benefit and engaging in transactions that were detrimental to the interests of the trustee. The court's decision emphasised the importance of fiduciary duties and the need for accountability in business dealings.

The orders made by the court included the recovery of the debts owed by the defendants, with interest. The court also imposed personal liability on the defendants for the debts and ordered them to pay costs associated with the proceedings. The orders reflected the court's findings regarding the validity of the debts, the defendants' breaches of fiduciary duty, and their personal liability for the debts incurred.