Rostirolla v Fiakos (No 2) [2002] FCA 1562

FEDERAL COURT OF AUSTRALIA

Rostirolla v Fiakos (No 2) [2002] FCA 1562 TRUSTS – creation of – where insurance policy on the life of deceased owned by respondent – whether policy proceeds held in trust for children of deceased – whether oral trust – whether deceased retained power to vary or revoke – whether such power exercised Life Insurance Act 1995 (Cth) ss 200-203, 207 Russell v Scott (1936) 55 CLR 440 discussed Blackwell v Blackwell [1929] AC 318 discussed Voges v Monaghan (1954) 94 CLR 231 discussed Guest v Webb [1965] VR 427 cited Kauter v Hilton (1953) 90 CLR 86 applied Smith v Hurst (1852) 10 Hare 30 discussed Re Ashby; Ex parte Wreford [1892] 1 QB 872 discussed Garrard v Lord Lauderdale (1831) 2 Russ & M 450 referred to Rose v Rose (1986) 7 NSWLR 679 cited Re Australian Elizabeth Theatre Trust (1991) 30 FCR 491 cited Associated Alloys Pty Ltd v ACN 001 452 106 Pty Ltd (in liq) (2000) 202 CLR 588 cited Calverley v Green (1984) 155 CLR 242 cited Godfrey v Poole (1888) 13 App Cas 49 applied Last v Rosenfeld [1972] 2 NSWLR 923 cited Bloch v Bloch (1994) 180 CLR 390 cited Giumelli v Giumelli (1999) 196 CLR 101 cited Jacobs – Law of Trusts, Meagher & Gummow, 6th Ed

DAYNA ROSTIROLLA and PETER ROSTIROLLA v JOAN FIAKOS and ROYAL & SUN ALLIANCE FINANCIAL SERVICES LIMITED N 958 of 2002 GYLES J SYDNEY 17 DECEMBER 2002

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N957 OF 2002

BETWEEN: DAYNA ROSTIROLLA

FIRST APPLICANT

PETER ROSTIROLLA

SECOND APPLICANT

AND: JOAN FIAKOS

FIRST RESPONDENT

ROYAL & SUN ALLIANCE FINANCIAL SERVICES LIMITED

SECOND RESPONDENT

JUDGE: GYLES J

DATE OF ORDER: 17 DECEMBER 2002

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The application is dismissed. 2. The proceeding is stood over for argument as to costs. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.