Dixon v Riquero

Dixon has brought an application against Riquero in the Federal Circuit Court of Australia seeking a declaration that the proceeds from the sale of a property at 1/45-47 Bartlet St, Canley Vale vest in the applicant pursuant to the Bankruptcy Act. The respondents are contesting the application. The dispute centres around the ownership of the proceeds from the sale of the property, which is currently held in trust by Messrs D. La Rosa Izzo & Co. The primary legal issue before the court was whether the Bankruptcy Act applied in a way that entitled the applicant to the proceeds of sale. The court held that the Bankruptcy Act applied to the proceeds of sale, and that they were assets of the bankrupt estate, which vested in the applicant. As such, the court made an order that the proceeds vest in the applicant and that the respondents pay the proceeds to the applicant forthwith. The court also ordered that the respondents pay the applicant’s costs in accordance with the Federal Court Act and Rules.