Re McKeering, P.M. v Ex parte Stafford, R.B. & Ors [1995] FCA 456

Re McKeering, P.M. v Ex parte Stafford, R.B. & Ors [1995] FCA 456

The application was dismissed because, although there were unsatisfactory features in the arrangements for the auction, the applicants did not seek to stop the sale, a recent registered valuation of $300,000 appeared proper, there was no evidence that the valuation was inadequate or grossly inadequate, and the Court remained uncertain how the trustee would proceed if put in charge of the sale.

Jurisdiction
Australia
Judgment Date
27 June 1995
Procedural Posture
Bankruptcy Application Concerning an Insolvent Deceased Estate / Application to Appoint a Registered Trustee to Take Charge of an Imminent Auction Sale Pending Determination of a Petition
Outcome
Application dismissed, with costs to the respondent; interim orders made restraining disbursement of sale proceeds and requiring the proceeds to be held in trust pending determination of the petition or earlier order.
Legal Topics
['appointment of Registered Trustee' 'administration Order in Bankruptcy' "sale of Debtor's Property" 'interlocutory Restraint on Disbursement of Sale Proceeds']
['bankruptcy' 'insolvency' 'deceased Estates'] ['appointment of Registered Trustee' 'administration Order in Bankruptcy' "sale of Debtor's Property" 'interlocutory Restraint on Disbursement of Sale Proceeds']

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Procedural Posture

Bankruptcy Application Concerning an Insolvent Deceased Estate / Application to Appoint a Registered Trustee to Take Charge of an Imminent Auction Sale Pending Determination of a Petition

Legal Issues

  1. 1 ["Whether a registered trustee should be appointed to take charge of the effective conduct of an auction sale of the deceased debtor's property shortly before it was to occur." "Whether the Court should interfere with the sale in light of concerns about the advertising period, advertising scope, auction time, reduced reserve, insolvency of the estate and the solicitor's interest in the sale proceeds."]

Ratio Decidendi

The application was dismissed because, although there were unsatisfactory features in the arrangements for the auction, the applicants did not seek to stop the sale, a recent registered valuation of $300,000 appeared proper, there was no evidence that the valuation was inadequate or grossly inadequate, and the Court remained uncertain how the trustee would proceed if put in charge of the sale.

Court Disposition

Application dismissed, with costs to the respondent; interim orders made restraining disbursement of sale proceeds and requiring the proceeds to be held in trust pending determination of the petition or earlier order.

Orders

  • ['The application be dismissed.' "The applicants pay the respondent's costs of and incidental to the application, to be taxed." 'Upon the applicants giving the usual undertaking as to damages, until the determination of the petition or earlier order, the respondent be restrained from disbursing any part of the...