![[Poor audio] O'Dea v O'Dea [2019] NSWSC 1560 episode artwork](https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded/1884674/1884674-1559547406106-d59f94056592b.jpg)
[Poor audio] O'Dea v O'Dea [2019] NSWSC 1560
from Coffee and a Case Note Hosted by James d'Apice
[First, an apology: this awful audio is the result of my own poor microphone management. Sorry!] “OK. We sold these units. Now what do we do with the money?” Trustees for sale were appointed to sell a Bondi block of units. In 2018 the defendant, who was one of the two co-owners/beneficiaries, offered to purchase the property for >$6M. The sale did not complete. In 2019 following a sale at $5.8M and payment of various expenses, the trustees held ~$5.3M. The plaintiff – the other co-owner/beneficiary (or, the P having passed away, his executors) – said the amount to be paid to the D should be adjusted due 2018 failed sale: [5] Any claim against the D for the failed sale is a claim the trustees have, not the P. And any such adjustment would amount to a summary determination of that claim. The P’s proposed adjustments were not made: [28] The trustees sought s63 judicial advice on retaining a sum to defend a claim the D hinted at which at the time of the hearing, was not “clearly formulated”: [31] Having considered matters like legal costs, the amount to be paid if the D succeeded, and the trustees’ right to an indemnity the court gave advice that the trustees would be justified in retaining the sum of $500K: [42]
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