Palombi, in the matter of Salgiopal Nominees Pty Ltd (Deregistered) ACN 066 793 655 [2012] FCA 698

Palombi, in the matter of Salgiopal Nominees Pty Ltd (Deregistered) ACN 066 793 655 [2012] FCA 698

The plaintiff, as successor trustee of the Palombi Family Trust, is entitled to the disclaimed property following the disclaimer by the liquidator, and the Court orders the vesting of the property in him without conveyance, transfer or assignment under s 568F.

Jurisdiction
Australia
Judgment Date
19 June 2012
Procedural Posture
Application / Judgment on Unopposed Application
Outcome
Application granted
Legal Topics
['disclaimed Property' 'trusts' 'liquidation' 'vesting Orders']
['corporations'] ['disclaimed Property' 'trusts' 'liquidation' 'vesting Orders']

Case Brief

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Procedural Posture

Application / Judgment on Unopposed Application

Legal Issues

  1. 1 ['Whether the disclaimed property should vest in Alfredo Palombi as trustee of the Palombi Family Trust without conveyance, transfer or assignment']

Ratio Decidendi

The plaintiff, as successor trustee of the Palombi Family Trust, is entitled to the disclaimed property following the disclaimer by the liquidator, and the Court orders the vesting of the property in him without conveyance, transfer or assignment under s 568F.

Court Disposition

Application granted

Orders

  • ['The disclaimed property, being one of two equal undivided shares in Certificate of Title Volume 9947 Folio 308, Lot 1, Benetook Avenue, Mildura, Victoria, is vested in Alfredo Palombi as trustee of the Palombi Family Trust immediately without any conveyance, transfer or assignment.' 'A sealed copy of this order be...