Three Co-Owners of Real Property v Another Co-owner and a Trustee in Bankruptcy [2020] NSWSC 42

Supreme Court New South Wales

Medium Neutral Citation: Three Co-Owners of Real Property v Another Co-owner and a Trustee in Bankruptcy [2020] NSWSC 42 Hearing dates: 5 February 2020 Date of orders: 07 February 2020 Decision date: 07 February 2020 Jurisdiction: Equity Before: Slattery J Decision: Orders made, permitting the funds in Court to be paid out to the plaintiffs and the second defendant. Orders stayed for 28 days. Catchwords: PROCEDURE – payment out of court – a fund being the proceeds of sale of certain real property held in Court – claim against the funds by each of four co-owners – three of the co-owners of the plaintiffs and one is the first defendant – the first defendant has since become bankrupt – any estate of the bankrupt co-owner not held by that co-owners trustee in bankruptcy is subject to an order for financial management under the NSW Trustee and Guardian Act 2009 – various claims made by and against the bankrupt co-owner's share of the fund are compromised by that co-owner's trustee in bankruptcy to reach agreed sums for payment out to each of the co-owners – whether the funds in Court can be paid out of Court by proposed consent orders – whether a tutor should be appointed for the bankrupt co-owner before orders are made for the payment of the fund out of court. Legislation Cited: Bankruptcy Act 1966 (Cth), s 58(1)(b) NSW Trustee and Guardian Act 2009 Uniform Civil Procedure Rules 2005, rr 7.13, 7.14(1), 7.15(3), 7.16 Cases Cited: A v A [2015] NSWSC 1178 Category: Consequential orders Parties: First plaintiff: [names not published] Second plaintiff: [names not published] Third plaintiff: [names not published] First defendant [names not published] Trustees: [names not published] Trustee in Bankruptcy/Second Defendant: [names not published] Representation: Solicitors: