Young, In the matter of Macryannis [2011] FCA 1272

FEDERAL COURT OF AUSTRALIA

Young, In the matter of Macryannis [2011] FCA 1272 Citation: Young, In the matter of Macryannis [2011] FCA 1272

Parties: GEOFFREY DAVID MCDONALD AS TRUSTEE OF THE BANKRUPT ESTATE OF THE LATE CHRISTOPHER JOHN MACRYANNIS AND KATHRYN ANNE YOUNG

File number: NSD 1955 of 2006

Judge: STONE J

Date of judgment: 8 NOVEMBER 2011

Catchwords: BANKRUPTCY – application under s 179 Bankruptcy Act 1966 (Cth) for enquiry into Trustee's conduct in administering deceased estate – administration under Part XI Bankruptcy Act– Trustee appointed by Court order – delay in distributing assets – application for enquiry brought by creditor of estate – whether creditor has standing to bring application – whether issues identified by creditor warrant an enquiry being ordered – consideration of principles relevant to exercise of Court's discretion under s 179 – consideration of principles governing the duties of trustees in bankruptcy – Court has high degree of supervision and control over trustees' conduct – powers of Inspector-General in Bankruptcy – reasons referred to Inspector-General for consideration BANKRUPTCY – administration under Part XI Bankruptcy Act – whether Trustee entitled to deal with non-divisible assets as part of administration – reference to bankrupt's assets or estate to be read as reference to whole of deceased person's property – Trustee required to administer whole of estate which includes non-divisible assets BANKRUPTCY – application by Trustee to have remuneration fixed – whether Trustee entitled to be remunerated for dealing with exempt assets – consideration of mechanism by which remuneration to be calculated – consideration of s 162(4) Bankruptcy Act and reg 8.08 Bankruptcy Regulations and relevant authorities – whether Trustee entitled to costs, charges and expenses of administration – remuneration and any costs, charges and expenses to be drawn from divisible assets