DALIAN HUARUI HEAVY INDUSTRY INTERNATIONAL COMPANY LTD -v- CLYDE & CO AUSTRALIA (A FIRM) [2020] WASC 132

SUPREME COURT OF WESTERN AUSTRALIA
[2020] WASC 132
N/A
CIV 1279/2020
23 MARCH 2020 & BY FURTHER WRITTEN SUBMISSIONS OF 30 MARCH 2020 & BY LEAVE ON 6 & 7 APRIL 2020
KENNETH MARTIN J
24/04/2020
Perth
Directions to trustee regarding obligation to make payment of Trust Amount Trustee directed to pay Trust Amount to plaintiff subject to caveats mentioned
A
DALIAN HUARUI HEAVY INDUSTRY INTERNATIONAL COMPANY LTD
CLYDE & CO AUSTRALIA (A FIRM)
DURO FELGUERA AUSTRALIA PTY LTD
Trusts and trustees
Express trust created by contract
International Arbitration - Funds held in controlled moneys account by trustee in Australia to secure enforceability of potential future International Arbitral Award
Success by plaintiff in obtaining substantial award against second defendant
Written direction by Arbitral Tribunal to Trustee to pay Trust Amount as per contract establishing trust to plaintiff
Subsequent appointment of voluntary administrators to second defendant
Trustee seeking court's advice as to trust funds
PPSA security interest considerations
Plaintiff's vested interest in trust funds post written direction of Tribunal to trustee
Trust funds no longer the subject of any residual equitable interest in second defendant
Upon vesting trust funds become property of the plaintiff as security interest perfected
Corporations Act 2001 (Cth)
International Arbitration Act (Singapore)
International Arbitration Act 1974 (Cth)
Personal Property Securities Act 2009 (Cth)
Rules of the Supreme Court 1971 (WA)
Trustees Act 1962 (WA)
AKN v ALC [2015] SGCA 18
Christie v Robinson (1907) 4 CLR 1338
Dura (Australia) Constructions Pty Ltd v Hue Boutique Living Pty Ltd [2014] VSCA 326; (2014) 49 VLR 86
Ellis v Goulton (1893) 1 QB 350
Flightline v Edwards [2003] 1 WLR 1200
Front Carriers Ltd v Atlantic & Orient Shipping Corp [2006] SGHC 127
Gas Sensing Technology Corporation v ProX Pty Ltd [2019] WASC 10
Grant v O'Leary (1955) 93 CLR 587
H&C S Holdings Pte Ltd v Mount Eastern Holdings Resources Co;, Limited [2015] SGHC 323
Hughes v Pluton Resources Ltd [2017] WASCA 213; (2017) 52 WAR 456
Koolan Iron Ore Pty Ltd v Rizhao Steel Holding Group Co Ltd [No 2] [2010] WASC 386
Larkden Pty Ltd v Lloyd Energy Systems Pty Ltd [2011] NSWSC 1305
Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66
Swift-Fortune Ltd v Magnifica Marine SA [2006] SGCA 42
Technomin Australia Pty Ltd v Xstrata Nickel Australasia Operations Pty Ltd [No 4] [2014] WASC 405
WA Sherratt Ltd v John Bromley (Church Stretton) Ltd [1985] 1 QB 1038
Wood (as Coexecutor and Trustee of the Will of the Deceased) v Wood [No 5] [2015] WASC 28