Bernard Putnin v Danis John Reynolds [1984] FCA 455

Bernard Putnin v Danis John Reynolds [1984] FCA 455

The share in Parktown Holdings Pty Ltd was properly vested in the trustee under the deed of arrangement after its disclosure to creditors, and the trustee was under a duty to realise the asset subject to further instructions from creditors. Sufficient evidence existed for committal for trial. The appeal was dismissed.

Parties
Appellant: Bernard Putnin; Appellant: Meyer Martin Levit; Respondent: Denis John Reynolds; Respondent: Peter Francis White
Jurisdiction
Australia
Judgment Date
13 December 1984
Procedural Posture
Appeal / Appeal From Dismissal of Application for Order of Review (committal Proceedings)
Outcome
appeal dismissed
Legal Topics
Review of Committal Decisions, Construction of Deeds of Arrangement, Duties of Trustee Under Bankruptcy Act, Conspiracy to Defraud Commonwealth, Management and Realisation of Assets in Bankruptcy
Administrative Law Bankruptcy Law Criminal Law Review of Committal Decisions Construction of Deeds of Arrangement Duties of Trustee Under Bankruptcy Act Conspiracy to Defraud Commonwealth Management and Realisation of Assets in Bankruptcy

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Parties

Bernard Putnin

Appellant

Meyer Martin Levit

Appellant

Denis John Reynolds

Respondent

Peter Francis White

Respondent

Procedural Posture

Appeal / Appeal From Dismissal of Application for Order of Review (committal Proceedings)

Legal Issues

  1. 1 Whether trustee under deed of arrangement was under a duty to realise asset not shown in statement of affairs but disclosed in schedule
  2. 2 Whether creditors' resolutions required realisation of asset
  3. 3 Interpretation of deed of arrangement and resolutions

Ratio Decidendi

The share in Parktown Holdings Pty Ltd was properly vested in the trustee under the deed of arrangement after its disclosure to creditors, and the trustee was under a duty to realise the asset subject to further instructions from creditors. Sufficient evidence existed for committal for trial. The appeal was dismissed.

Court Disposition

appeal dismissed

Orders

  • The appeal be dismissed.
  • The appellant to pay the respondents' costs of the appeal.