Pennie v Pennie [2010] NSWSC 1070

Pennie v Pennie [2010] NSWSC 1070

The orders sought under s 76(1) of the Trustee Act 1925 (NSW) are discretionary; it was not expedient in this case to grant a vesting order and permit the sale of the property while the assessment of costs was unresolved and might significantly affect or eliminate the charge in the applicants' favour.

Jurisdiction
Australia
Judgment Date
07 October 2010
Procedural Posture
Cross Summons / Application for Vesting Order and Order to Sell Property
Outcome
Cross-Summons dismissed with costs
Legal Topics
['vesting Orders' 'equitable Charges' 'discretion Under Trustee Act 1925 (nsw)']
['equity' 'practice and Procedure'] ['vesting Orders' 'equitable Charges' 'discretion Under Trustee Act 1925 (nsw)']

Case Brief

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Procedural Posture

Cross Summons / Application for Vesting Order and Order to Sell Property

Legal Issues

  1. 1 ['Whether s 76(1) of the Trustee Act 1925 (NSW) confers an absolute right or a discretion to make a vesting order and permit sale of charged property' 'Whether it is expedient for the Court to make such orders in light of potential set-off or costs orders']

Ratio Decidendi

The orders sought under s 76(1) of the Trustee Act 1925 (NSW) are discretionary; it was not expedient in this case to grant a vesting order and permit the sale of the property while the assessment of costs was unresolved and might significantly affect or eliminate the charge in the applicants' favour.

Court Disposition

Cross-Summons dismissed with costs

Orders

  • ['Cross-summons is dismissed with costs.']