Maxwell Prentice in his capacity as the trustee of the bankrupt estate of Nicole Lyn Marjoribanks v Wayne Lyndon Pitt [2015] NSWSC 262

Supreme Court New South Wales

Medium Neutral Citation: Maxwell Prentice in his capacity as the trustee of the bankrupt estate of Nicole Lyn Marjoribanks v Wayne Lyndon Pitt [2015] NSWSC 262 Hearing dates: 20 February 2015 Date of orders: 19 March 2015 Decision date: 19 March 2015 Jurisdiction: Equity Division Before: Rein J Decision: See [34] Catchwords: EQUITY - Trustee seeking order under s 66G of the Conveyancing Act 1919 (NSW) for sale of the property jointly owned by bankrupt - Issue relating to net proceeds of sale of the property - Deed made at the time of purchase of property between bankrupt and her parents (the other joint owners) with a provision dealing with how the proceeds of sale are to be divided - Contribution - Exoneration - Mutual set off under s 86 of the Bankruptcy Act 1966 (Cth) Legislation Cited: Bankruptcy Act 1966 (Cth) Conveyancing Act 1919 (NSW) Personal Property Securities Act 2009 (Cth) Cases Cited: Albion Insurance Co Ltd v Government Insurance Office of New South Wales (1969) 121 CLR 342 Bloch v Bloch [1981] HCA 56 Calverley v Green Commercial & General Insurance Co Ltd v Government Insurance Office of NSW (1973) 129 CLR 374 Dickson v Reidy (2004) 12 BPR 23,201 [2004] NSWSC 1200 Drayton v Martin (1996) 67 FCR1 Farrugia v Official Receiver in Bankruptcy (1982) 58 FLR 474 Friend v Brooker and Another [2009] HCA 21 Government Insurance Office (NSW) v Crowley GRE Insurance Ltd v QBE Insurance Ltd [1985] VR 83 Gye v McIntyre ; (1991) 171 CLR 609 Lavin v Toppi [2015] HCA 4 Official Trustee in Bankruptcy v Citibank Savings Ltd Parsons v McBain (2001) 109 FCR 120 Re Berry (a bankrupt) [1976] 2 NZLR 449 Texts Cited: Young, Croft, Smith on Equity (Thomson Reuters, 2009) Category: Principal judgment Parties: Maxwell Prentice in his capacity as the trustee of the bankrupt estate of Nicole Lyn Marjoribanks (Plaintiff) Wayne Lyndon Pitt (First Defendant) Lynette Marion Pitt (Second Defendant) Representation: Ashurst Australia (Plaintiff) Whitelaw McDonald (First and Second Defendant) File Number(s): 2014/279482 Publication restriction: nil