MAZZONE v JAMES & ANOR [2010] NSWSC 437

New South Wales Supreme Court

CITATION : MAZZONE v JAMES & ANOR [2010] NSWSC 437

HEARING DATE(S) : 06/05/2010

JUDGMENT DATE : 6 May 2010

JURISDICTION : EQUITY

JUDGMENT OF : Bryson AJ at 1

EX TEMPORE JUDGMENT DATE : 6 May 2010

1.Declare that the entitlements to moneys held by the Public Trustee from the proceeds of sale of 45 Cabbage Tree Lane Fairy Meadow, the land in Folio 4/19568, are these: 1. The plaintiff is entitled to 97.87%; the first defendant is entitled to 2.13%. DECISION : 2. Direct that the Public Trustee distribute funds available as proceeds of the sale after payment of all proper charges in these proportions. 3. Order each party bear his or her own costs of the proceedings up to and including the order appointing statutory trustees for sale. 4. Order that the defendants pay the plaintiff's costs of these proceedings with respect to attendances after 18 June 2009.

CATCHWORDS : PARTITION - sale of co-owned land under Conveyancing Act 1919 - disposition of proceeds - parties bought house property in partnership or joint venture to renovate, resell and share profits - project reached stalemate because of disputes, Public Trustee appointed under s 66G, sold land, paid mortgage and charges and produced small surplus – decision on entitlements to distribution according to oral terms of joint venture - on the facts, there were no profits, two members were entitled to their expenditures, the fund was not sufficient to repay them and the available money was distributed pro rata. Decision on facts.

CATEGORY : Principal judgment

Arrow Custodians Pty Ltd v Pine Forests of Australia [2008] NSWSC 839 CASES CITED : Forgeard v Shanahan (1994) 35 NSWLR 206 McKay v McKay [2008] NSWSC 256