Does an off-market but over-value sale breach a controller's duty of care in exercising a power of sale?

Justice Black of the Supreme Court of NSW grappled with that question in his judgment on 16 May 2017 In the matter of Australasian Barrister Chambers Pty Ltd (in liquidation) [2017] NSWSC 597. Given the nature of the application before him, his Honour felt bound by appeal court authority to indicate that it does but expressed "real reservations as to the cogency of that view".

Paragraphs 45 to 52 of his Honour's judgment are particularly interesting: see the decision here.