Serra-Sanfelin, Re D.H. Bankruptcy, Ex parte The Official Trustee in [1988] FCA 349

JUDGMENT No. 2°. 7.523 onus

CATCHWORDS

BANKRUPTCY —- Sub-s.109(10) Bankruptcy Act 1966 - Application by trustee for order conferring advantage on indemnifying

creditors with respect to distribution of recovered asset -

Asset recovered without resorting to litigation - Bankruptcy Amendment Act 1985 - What is meant by "recovered under an indemnity for costs of litigation" - Principles applicable to

determination of degree of advantage which should be conferred.

Bankruptcy Act 1966 sub-ss.109(10), 116(1), 152(1), 153(1), 154(1), iets, para.58(1)(b) Bankruptcy Amendment Act 1985

RE: DAVID HAROLD SERRA~SANFELIN EX PARTE: THE OFFICIAL TRUSTEE IN BANKRUPTCY the Trustee of the property of David Harold Serra-Santelin

NO. 171 OF 1980

LEE J. PERTH 30 JUNE 1988

IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION

OF THE STATE OF

) BANKRUPTCY DISTRICT ) ) )

WESTERN AUSTRALIA

NO. 171 OF 1980

RE: DAVID HAROLD SERRA-SANFELIN

EX PARTE: THE OFFICIAL TRUSTEE IN

BANKRUPTCY the Trustee of the property of David Harold Serra-Sanfelin

Applicant

MINUTE OF ORDER

JUDGE MAKING ORDER: LEE J.

DATE OF ORDER:

WHERE MADE:

30 JUNE 1988

PERTH

THE COURT ORDERS THAT:

1.

The sum of $45,000 recovered by the trustee

indemnities for costs of litigation,

under

less deductions for

relevant fees, costs and expenses, be distributed in the

following manner:

(a)

(b)

The sum of $12,000 be distributed to the indemnifying creditors pro rata; and

the balance, after payment of costs and expenses of administration, be distributed to creditors of the separate estate and the remaining surplus to creditors of the joint estate of the bankrupt and Graeme John Jones.

action to include the joint estate of the bankrupt

Graeme John Jones.

The applicant be granted leave to amend the title of the

and

So much of the trustee's costs as do not exceed $1,000 be paid as part of the expenses of recovery of the