Australia, April 19 -- New South Wales Land and Environment Court issued text of the following judgement March 19:
1. This is an application pursuant to s 66G of the Conveyancing Act 1919 (NSW) (the Act) for the appointment of trustees for sale of certain land situated at Hastings River Drive, Port Macquarie, NSW (Property). Upon that land is a timeshare resort known as Ultiqa Village Resort (Resort).
2. The resort is operated by the first plaintiff (Ultiqa). The second plaintiff is a part owner of the Property. The Resort has been exempt from the managed investment schemes provisions in the Corporations Act 2001 (Cth).
3. There are 761 defendants, including the second plaintiff. They are tenants in common in relation to the Property, ea...