Alby, Bertie and Carlo were old friends from their days at the College of the Arts. While Bertie and Carlo have persevered along their creative paths, Alby has become more of an 'ideas man' in the marketing line. When Alby received his share from his parents' deceased estate, he proposed a business venture to Bertie and Carlo.

In December 2018, the three friends were registered as joint proprietors in the fee simple of 42 Maribyrnong Drive, a dilapidated warehouse near Footscray

Of the purchase price of $1.6 million, Alby contributed a deposit of twenty five percent. The balance of the purchase price was secured by a mortgage loan from Western Alliance Bank at an interest rate of five percent per annum for a period of twenty five years, for which they were jointly liable.

In order to finance the conversion of the warehouse, Bertie and Carlo each obtained loans of $200,000 from Swift Mortgage Loans Ltd, at an interest rate of ten percent per annum repayable over ten years. Both loans were secured by mortgages over Bertie and Carlo's interests in 36 Maribyrnong Drive. Only Bertie and Carlo signed their respective mortgage agreements. Alby funded the conversion of his share of the warehouse from the remainder of his inheritance.

The Maribyrnong River flooded, extensively damaging the warehouse. Carlo, who was profoundly immersed in a novel at the time of the flash flooding, quickly became even more deeply immersed in the floodwaters. His body was found floating near Victoria Docks next morning. In his will, Carlo left all his real and personal property to Stella.

Alby and Bertie discovered that the insurance policy on the property only covered storm damage, defined as water moving downwards onto the property, not upwards as was the case with the flood waters. Due to the extensive damage, they couldn't continue trading. They are unable to obtain any further loans, or to service the existing loans without any cash flow from trading.

By 25 March 2021, Alby had contributed $400,000 to the joint account used for the warehouse conversion and loan repayment. Bertie has contributed $100,000 to the joint account. Carlo has not been able to contribute to the joint account. H

There is a combined total of $700,000 outstanding on the three loans. After the unrepaired flood damage, 42 Maribyrnong Road has been independently valued at $1.2 million.

Is there a resulting trust in the given scenario? explain your answer.

Is there a express trust in the given scenario? explain your answer.

Can the trust be rebutted?