Coumanios v Giunti

In Coumanios v Giunti, the applicants, who were former bankrupts, sought various orders regarding properties in Greece. They argued that they were entitled to the proceeds from the sale of certain properties, and sought a permanent stay against the second respondent from realising other properties in Greece. The court considered whether the applicants had standing to seek relief to protect property of the bankrupt estate, and whether monies acquired by the unauthorised sale of Greek properties belonged in justice and equity to the applicants.

The court held that the applicants did not have standing to seek some of the relief claimed in their statement of claim, but that they did have standing in relation to the claim for a declaration that the proceeds of sale of the four properties on Lesbos were property of the applicants. However, the court found that the applicants had no entitlement to the proceeds of sale of those properties, as they were vested in the trustee of the bankrupt estates. The court also held that the applicants were not entitled to costs in relation to the payment of monies from the sale of the properties into court.

The court dismissed the application and ordered that the court pay to the trustee all sales proceeds paid into court by the first respondent. The court further ordered that the first respondent is to advise the court as to his position regarding an order sought in his interlocutory application, following delivery of the judgment. The court also made orders relating to costs and the interlocutory injunction made on 12 January 2015.