Recent Cases

Australian Karting Association Ltd v Karting (New South Wales) Incorporated [2022] NSWCA 188 (21 September 2022) (Meagher and Gleeson JJA, Simpson AJA)


Catchwords:


EQUITY – trusts and trustees – discretionary trust – whether unpaid distributions payable at call – unpaid distributions credited to beneficiaries’ loan accounts – acknowledgement of debt in audited accounts of the trust – whether trustee intended to exercise power of distribution – whether approval of audited accounts of trust justifies inference as to trustee’s intention and informal resolution to make distributions

CORPORATIONS – accounts – evidentiary weight of matters stated or recorded in accounts of the trust – s 1305, Corporations Act (Cth) – inference to be drawn from matters recorded in accounts of the trust – where no formal resolution of directors to distribute income to beneficiaries

APPEAL – new point on appeal – where alternative case on appeal involves contrary proposition to case at trial – whether prejudice to respondent