Boensch v PascoeCitation:[2019] HCA 49Before:Kiefel CJ, Bell, Gageler, Keane, Nettle, Gordon, Edelman JJDate:13 Dec 2019Case Number:S216/2019Read more
Property held by a bankrupt on trust for another does not vest in the trustee in bankruptcy; a caveat may only be maintained where there is a caveatable interest or honest belief on reasonable grounds; the right of indemnity is not prejudiced unless benefits received equal or exceed expenses incurred.
- Parties
- Applicant: Unknown (Bankrupt); Respondent: Trustee in Bankruptcy
- Jurisdiction
- Australia
- Judgment Date
- 13 December 2019
- Procedural Posture
- Bankruptcy Appeal / Judgment
- Outcome
- Appeal dismissed
- Legal Topics
- Vesting of Trust Property in Bankruptcy, Caveats Under Torrens System, Trustee's Right of Indemnity
Case Brief
Summary, issues, holding and outcome
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Parties
Unknown (Bankrupt)
Applicant
Trustee in Bankruptcy
Respondent
Procedural Posture
Bankruptcy Appeal / Judgment
Legal Issues
- 1 Whether property held by bankrupt on trust vests in trustee in bankruptcy
- 2 Whether trustee in bankruptcy had a caveatable interest under the Real Property Act
- 3 Whether caveator is liable for compensation for lodging caveat without reasonable cause
Ratio Decidendi
Property held by a bankrupt on trust for another does not vest in the trustee in bankruptcy; a caveat may only be maintained where there is a caveatable interest or honest belief on reasonable grounds; the right of indemnity is not prejudiced unless benefits received equal or exceed expenses incurred.
Court Disposition
Appeal dismissed
Orders
- No compensation payable under s 74P(1) of the Real Property Act 1900 (NSW)
- Trustee's caveat maintained
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