Parsi v Li [2021] NSWSC 358

Parsi v Li [2021] NSWSC 358

The applicant satisfied the requirements for payment out of funds held in Court because the funds were surplus proceeds from sale of property owned by the deceased, the applicant held letters of administration as creditor of the deceased, attempts had been made to notify Ms Li, Ms Li raised no competing claim, and the applicant was not aware of any other person with a valid claim to the moneys held in Court.

Jurisdiction
Australia
Judgment Date
30 March 2021
Procedural Posture
Application Under Trustee Act 1925 (nsw), S 98 for Payment Out of Funds Held in Court in Administration of an Estate / Notice of Motion; Consequential Orders; Ex Tempore Judgment
Outcome
Application granted.
Legal Topics
['administration of Estates' 'payment Out of Funds Held in Court' 'surplus Proceeds of Mortgagee Sale' 'notice to Potential Claimants']
['succession' 'equity' 'trusts and Trustees' 'civil Procedure'] ['administration of Estates' 'payment Out of Funds Held in Court' 'surplus Proceeds of Mortgagee Sale' 'notice to Potential Claimants']

Case Brief

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Procedural Posture

Application Under Trustee Act 1925 (nsw), S 98 for Payment Out of Funds Held in Court in Administration of an Estate / Notice of Motion; Consequential Orders; Ex Tempore Judgment

Legal Issues

  1. 1 ['Whether funds in Court representing the residue of proceeds of sale of 13/4-5 St Andrews Place, Dundas, plus interest, should be paid to the applicant as administrator of the estate of Zhili Wu, also known as Match Wu.' 'Whether the applicant had identified and notified persons with potential claims to the funds and established entitlement to payment out under Trustee Act 1925 (NSW), s 98 and Uniform Civil Procedure Rules 2005 (NSW), r 55.11.']

Ratio Decidendi

The applicant satisfied the requirements for payment out of funds held in Court because the funds were surplus proceeds from sale of property owned by the deceased, the applicant held letters of administration as creditor of the deceased, attempts had been made to notify Ms Li, Ms Li raised no competing claim, and the applicant was not aware of any other person with a valid claim to the moneys held in Court.

Court Disposition

Application granted.

Orders

  • ['Pursuant to s 98 of the Trustee Act 1925 (NSW), order that the funds in Court, being the residue of the proceeds of sale of the land known as 13/4-5 St Andrews Place, Dundas, together with all interest earned on those funds be paid to the applicant in his capacity as administrator of the estate of Zhili Wu, also...