The High Court decision of Bosanac – Implications for Family Law Property Settlements

Creditors, trustees in bankruptcy and innocent spouses – who gets the house?

Equitable principles achieved greater significance in family law property settlements after the High Court of Australia’s decision in Stanford v Stanford [2012] HC 52. They are even more important when one spouse is bankrupt or potentially bankrupt.

The relative importance of the equitable principles and the rights of the Commissioner of Taxation as against a non-creditor spouse were considered by the High Court in Bosanac, in which judgment was delivered on 12 October 2022.

In particular, the equitable principles of resulting trust and presumption of advancement give competing outcomes.  Which takes priority?

The High Court also had the opportunity to consider whether Trustee of the Property of Cummins v Cummins [2006] HCA 6, where these equitable principles were considered in the context of the rights of a trustee in bankruptcy, was still good law.

After first presenting the facts of Bosanac, and explaining the legal background, this session will analyse the judgment and point out how the High Court’s reasoning may affect future disputes between spouses and creditors or trustees in bankruptcy.

Learning Outcomes:

Attendees will gain an understanding of:

•    the equitable principles of resulting trust and presumption of advancement

•    how these equitable principles apply to family law property settlements

•    how the rights of creditors and trustees in bankruptcy will be affected by this significant case law development

Suited to:

Family lawyers, accountants, insolvency practitioners and financial planners

This On Demand includes: 

• a recording of the webinar Event which can be viewed multiple times
• a PDF of the presenter’s PowerPoint
• a verbatim Transcript
• any supporting documentation
• a CPD Certificate after successful completion of the Knowledge Quiz