Sheahan v Cooper [1999] FCA 424

Sheahan v Cooper [1999] FCA 424

It is appropriate to empower the trustee to sell Rothmore Farm to the fourth respondent at the specified price and terms within a further period, as it carries no downside to the applicant and avoids expense and inconvenience, subject to the trustee's judgment and additional information that may arise.

Jurisdiction
Australia
Judgment Date
01 April 1999
Procedural Posture
Application/motion in a Bankruptcy Proceeding / Post Judgment, Determination of Sale of Property
Outcome
Order granting trustee discretionary power to sell Rothmore Farm to fourth respondent at specified price and terms within extended period; costs awarded to applicant; motion otherwise adjourned.
Legal Topics
['sale of Property by Trustee' 'orders Under S 74 Law of Property Act 1936 (sa)' 'distribution of Proceeds' 'extension or Variation of Orders']
['bankruptcy' 'property Law'] ['sale of Property by Trustee' 'orders Under S 74 Law of Property Act 1936 (sa)' 'distribution of Proceeds' 'extension or Variation of Orders']

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Procedural Posture

Application/motion in a Bankruptcy Proceeding / Post Judgment, Determination of Sale of Property

Legal Issues

  1. 1 ['Whether to make further orders under s 74 Law of Property Act 1936 (SA) permitting sale of Rothmore Farm to fourth respondent' 'Whether grounds exist to extend previous orders relating to property sale timeline']

Ratio Decidendi

It is appropriate to empower the trustee to sell Rothmore Farm to the fourth respondent at the specified price and terms within a further period, as it carries no downside to the applicant and avoids expense and inconvenience, subject to the trustee's judgment and additional information that may arise.

Court Disposition

Order granting trustee discretionary power to sell Rothmore Farm to fourth respondent at specified price and terms within extended period; costs awarded to applicant; motion otherwise adjourned.

Orders

  • ['That John Sheahan as trustee may sell or offer for sale Rothmore Farm to the fourth respondent at $1,208,673 (excluding interests of third and fourth respondents) within thirty-five days subject to specified conditions.' 'If the sale proceeds, proceeds to be distributed per paragraph 3 of 8 March 1999 order.' 'The...