Stojic v Stojic [2018] NSWSC 1268

Stojic v Stojic [2018] NSWSC 1268

In the estate's interests, the special administrators should be granted additional powers to execute and manage the DOCA, intervene in related proceedings, borrow and encumber estate property as necessary to preserve and facilitate the estate's business interests and claims. Judicial advice is warranted to protect the administrators in acting as proposed, and costs should be awarded to all parties but set-off where there remains unreimbursed liability to the estate.

Jurisdiction
Australia
Judgment Date
15 August 2018
Procedural Posture
Equity Trusts and Trustees Judicial Advice; Procedural and Other Rulings / Application for Additional Powers and Judicial Advice; Orders on Interlocutory Motion
Outcome
Orders for granting additional powers to special administrators; judicial advice provided; costs directions made.
Legal Topics
['judicial Advice to Trustees' 'special Administration of Deceased Estate' 'deed of Company Arrangement' 'powers of Administrators' 'costs in Trust Proceedings']
['equity' 'succession Law' 'corporations Law' 'trusts Law'] ['judicial Advice to Trustees' 'special Administration of Deceased Estate' 'deed of Company Arrangement' 'powers of Administrators' 'costs in Trust Proceedings']

Case Brief

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Procedural Posture

Equity Trusts and Trustees Judicial Advice; Procedural and Other Rulings / Application for Additional Powers and Judicial Advice; Orders on Interlocutory Motion

Legal Issues

  1. 1 ['Should special administrators be granted additional powers to manage the deceased estate including execution of DOCA and intervention in related proceedings?' 'Are the special administrators justified in seeking recovery actions, participating in Family Court proceedings, and encumbering estate property to support DOCA?' 'How should the costs of the applications be apportioned given the adversarial and contradictor roles?']

Ratio Decidendi

In the estate's interests, the special administrators should be granted additional powers to execute and manage the DOCA, intervene in related proceedings, borrow and encumber estate property as necessary to preserve and facilitate the estate's business interests and claims. Judicial advice is warranted to protect the administrators in acting as proposed, and costs should be awarded to all parties but set-off where there remains unreimbursed liability to the estate.

Court Disposition

Orders for granting additional powers to special administrators; judicial advice provided; costs directions made.

Orders

  • ['Ivanna Ann-Marie Ferenc Stojic and Ivan Matthew Stojic as special administrators of the estate of the late Ivan Stojic granted the additional powers set out in the attached schedule.' 'Special administrators empowered to execute Deed of Company Arrangement, accept transfer of shares, manage company, borrow monies,...