[2002] NSWLEC 21 [2002] NSWLEC 21

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On an application to set aside a statutory demand under section 459G of the Corporations Act 2001 (Cth), the Wallaroo-Yorke rule for statutory demands requires the applicant to identify with specificity the offsetting claim relied upon, supported by evidence sufficient to demonstrate a genuine triable issue

On an application to set aside a statutory demand under section 459G of the Corporations Act 2001 (Cth), the Wallaroo-Yorke rule for statutory demands requires the applicant to identify with specificity the offsetting claim relied upon, supported by evidence sufficient to demonstrate a genuine triable issue.

[2002] NSWLEC 21 at [30]

An equitable charge over commingled trust funds may be enforced under the Vermilion Quay principle of equitable charge where the trustee has dealt with the funds in breach of fiduciary duty and a sufficient proportion of the original res remains identifiable in the resulting account

An equitable charge over commingled trust funds may be enforced under the Vermilion Quay principle of equitable charge where the trustee has dealt with the funds in breach of fiduciary duty and a sufficient proportion of the original res remains identifiable in the resulting account.

[2002] NSWLEC 21 at [37]