IUO [2015] NSWCATGD 4

IUO [2015] NSWCATGD 4

The Tribunal was satisfied that Mr IUO was capable of managing his affairs because he demonstrated an advanced functional understanding of his estate, business, risks, investments and potential disadvantage, there was no evidence he was currently incapable of managing ordinary affairs of living, and the psychiatric and neuropsychological evidence supported capacity. Accordingly, the financial management order made on 17 July 2002 was revoked.

Jurisdiction
Australia
Judgment Date
03 February 2015
Procedural Posture
Application to Revoke a Financial Management Order / Hearing and Review of Financial Management Order
Outcome
Financial management order revoked.
Legal Topics
['capacity to Manage Affairs' 'revocation of Financial Management Order' 'protected Person' 'business and Financial Affairs' 'undertaking to Tribunal']
['guardianship and Financial Management'] ['capacity to Manage Affairs' 'revocation of Financial Management Order' 'protected Person' 'business and Financial Affairs' 'undertaking to Tribunal']

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Procedural Posture

Application to Revoke a Financial Management Order / Hearing and Review of Financial Management Order

Legal Issues

  1. 1 ['Whether Mr IUO was capable of managing his affairs.' "Whether it would be in Mr IUO's best interests for the existing financial management order to be revoked." 'If there were insufficient grounds for revocation, whether the financial management order should be confirmed or varied.']

Ratio Decidendi

The Tribunal was satisfied that Mr IUO was capable of managing his affairs because he demonstrated an advanced functional understanding of his estate, business, risks, investments and potential disadvantage, there was no evidence he was currently incapable of managing ordinary affairs of living, and the psychiatric and neuropsychological evidence supported capacity. Accordingly, the financial management order made on 17 July 2002 was revoked.

Court Disposition

Financial management order revoked.

Orders

  • ['Mr IUO was substituted for Mr WBN as the applicant.' 'The financial management order made for Mr IUO on 17 July 2002 was revoked.' "The Tribunal formally noted Mr IUO's undertaking that he would forthwith use his best endeavours to retain a business consultant to advise and mentor him in relation to his business...