This case arises out of a relationship between a boarding house operator and her young boarder spanning nearly 20 years and the property portfolio amassed between them, which they both lay claim to. Twelve units were purchased in the boarder’s name, initially with funds contributed solely by the boarding house operator and later with funds …
A wife died leaving her estate to her husband and two children from a previous marriage. Her husband claimed that he had paid for the house and the estate held it on resulting trust for him solely and claimed reimbursement of mortgage instalments and improvements to the house. The court did not believe the husband …
A trustee, Agusta, transferred trust property, in respect of which its creditor, Provident, had lodged a writ to secure a judgment debt, to a new trustee. Before the transfer took place, the writ lapsed and the new trustee became the registered proprietor of the property. The new trustee then sought to remove the notation on …
Joint account-holders held bank accounts with Citibank and NAB. Citibank transferred money from their account on a fraudulent instruction to NAB, which then paid the money out also on a fraudulent instruction to three people living in the Philippines. The customers sued for damages against both banks on the basis that moneys were paid out …
William Co-Buchong & Anor v Citigroup [2011] NSWSC 1199 Read More »
This case concerns a failed joint venture between engineers and achitects. One of the financiers called upon the personal guarantees and one guarantor paid out the loan and took an assignment of the loan and called upon the other guarantors to pay their proportions. The agreement was to split the profits after $500,000 was paid …
Further judicial advice was sought by the transferee of shares in a fund and also the trustee in relation to previous judicial advice pursuant to section 63 of the Trustee Act 1925 (NSW) and the transfer of units from unitholders to the transferee at a price below the unit price. The previous judicial advice required …
Two joint venturers entered into a written contract providing for one of the joint venturers to commence certain advisory services. They had to be performed upon a completion notice being issued and not before. If no completion notice was issued within 12 months, the deposit paid by the other joint venturer would be returned. Twelve …
Metroland Funds Management v Skyrise Consultants [2011] NSWSC 343 Read More »
The son claimed a 38% interest as tenant-in-common with his sister in property pursuant to a deed made by their parents, the daughter and her husband. The land was purchased in equal amounts by the parents and daughter and a house was constructed on the property for them all to live in from contributions split …
Two brothers co-owned a farm and the younger brother sold his interest in the farm to his older brother. A dispute arose many years later as to whether the sale included the water rights. The older brother argued that the water rights were transferred with title to the farm. The younger brother sought relief under …
This case concerned a determination as to which of a number of entities should bear the cost of a fraud. A finance company rented out purchased equipment for clients. The client fraudster entered into a rental agreement with the finance company in relation to equipment that never existed. The fraudster had provided the finance company …
Australian Financial Services and Leasing v Hills Industries [2011] NSWSC 267 Read More »
