Stankovic v Stankovic [2008] NSWSC 475

New South Wales Supreme Court

CITATION : Stankovic v Stankovic [2008] NSWSC 475

HEARING DATE(S) : 25, 27, 28 March, 5 May 2008

JUDGMENT DATE : 16 May 2008

JURISDICTION : Equity Division Expedition List

JUDGMENT OF : Brereton J

DECISION : 1) Declare that first defendant David Stankovic was liable to indemnify plaintiff Milovan Stankovic and second defendant Milka Stankovic in respect of all liability which they might have under line of credit and subject thereto was beneficially entitled to the property and the proceeds of its sale. (2) Order that funds in court to credit of proceedings together with accrued interest be paid out to first defendant. (3) Judgment that plaintiff pay first defendant $49,055.38. (4) Order that plaintiff pay first defendant's costs.

CATCHWORDS : ACCOUNTS AND INQUIRIES – on dissolution of alleged joint venture for development of property – where order for accounts made by consent on limited basis without resolving entitlement issue – where plaintiff belatedly contends that original order should be reopen to provide for wider obligation to account – whether appropriate to reopen original order – where property purchased in name of first defendant (son) with funds borrowed in name of plaintiff (father) second defendant (wife) and son – whether presumption of resulting trust rebutted - whether common intention that property was to be beneficially the son's – where father agreed to provide security for loan upon certain conditions – where condition breached – whether father entitled to appropriate profits of venture - whether father entitled to draw on loan for his own separate benefit – extent of father's liability to account for such drawings.

CATEGORY : Principal judgment

CASES CITED : Stankovic v Stankovic [2007] NSWSC 814 Stankovic v Stankovic [2008] NSWSC 425