Murakami, in the matter of Murakami [2011] FCA 844

Murakami, in the matter of Murakami [2011] FCA 844

Since appropriate notice was given to creditors and their interests are protected, the Japanese bankruptcy proceedings are recognised and the trustee is entrusted with administering and distributing the Australian property in the foreign proceedings.

Jurisdiction
Australia
Judgment Date
22 July 2011
Procedural Posture
Application for Recognition of Foreign Insolvency Proceedings / Judgment Following Notice to Creditors
Outcome
Application granted; Japanese bankruptcy proceedings recognised; trustee entrusted with distribution of Australian property.
Legal Topics
['recognition of Foreign Bankruptcy Proceedings' "trustee's Powers in Cross Border Insolvency"]
['insolvency' 'cross Border Insolvency'] ['recognition of Foreign Bankruptcy Proceedings' "trustee's Powers in Cross Border Insolvency"]

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Procedural Posture

Application for Recognition of Foreign Insolvency Proceedings / Judgment Following Notice to Creditors

Legal Issues

  1. 1 ['Whether the bankruptcy proceedings in Japan should be recognised in Australia' 'Whether the Japanese trustee should be entrusted with distribution of the Australian property']

Ratio Decidendi

Since appropriate notice was given to creditors and their interests are protected, the Japanese bankruptcy proceedings are recognised and the trustee is entrusted with administering and distributing the Australian property in the foreign proceedings.

Court Disposition

Application granted; Japanese bankruptcy proceedings recognised; trustee entrusted with distribution of Australian property.

Orders

  • ['An order recognising the Japanese bankruptcy proceedings pursuant to the Cross-Border Insolvency Act 2008 (Cth) and the Model Law on Cross-Border Insolvency.' "An order entrusting the Japanese trustee with distribution of the relevant debtor's assets and estate, specifically Lot 99 on BUP 106856 in the county of...