Ingram v Y Twelve Pty Ltd [2013] NSWSC 1777

Ingram v Y Twelve Pty Ltd [2013] NSWSC 1777

The transfers effected on 30 August 2012 by HM&O Investments Pty Ltd to Y Twelve Pty Ltd were made, at least in part and predominantly, with the intention to place assets beyond the reach of creditors, particularly Mr and Mrs Ingram, at a time when it was clear that HM&O was at risk of an adverse costs order, and are thus voidable under s 37A of the Conveyancing Act 1919.

Jurisdiction
Australia
Judgment Date
03 December 2013
Procedural Posture
Principal Judgment / Final Judgment
Outcome
Transfers declared void as voidable dispositions under s 37A Conveyancing Act 1919; Mr and Mrs Ingram entitled to relief.
Legal Topics
['voidable Dispositions' 'alienation of Property' 'fraud on Creditors' 'section 37 a Conveyancing Act 1919']
['equity' 'commercial Law' 'real Property'] ['voidable Dispositions' 'alienation of Property' 'fraud on Creditors' 'section 37 a Conveyancing Act 1919']

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Procedural Posture

Principal Judgment / Final Judgment

Legal Issues

  1. 1 ['Whether the transfers of shares and units by HM&O Investments Pty Ltd to Y Twelve Pty Ltd constituted an alienation of property made with intent to defraud creditors for the purposes of s 37A Conveyancing Act 1919' 'Whether the property transferred was property to which creditors would otherwise have been entitled']

Ratio Decidendi

The transfers effected on 30 August 2012 by HM&O Investments Pty Ltd to Y Twelve Pty Ltd were made, at least in part and predominantly, with the intention to place assets beyond the reach of creditors, particularly Mr and Mrs Ingram, at a time when it was clear that HM&O was at risk of an adverse costs order, and are thus voidable under s 37A of the Conveyancing Act 1919.

Court Disposition

Transfers declared void as voidable dispositions under s 37A Conveyancing Act 1919; Mr and Mrs Ingram entitled to relief.

Orders

  • ['Declaration that the transfers of shares and units made on 30 August 2012 by HM&O Investments Pty Ltd to Y Twelve Pty Ltd are void under s 37A of the Conveyancing Act 1919.' 'Order that the shares and units be transferred back to HM&O Investments Pty Ltd.']