In the Matter of Paul Alebakis White, Clyde Peter (As Trustee of the Bankrupt estate of Paul Alebakis) v Alebakis, John & Anor [1997] FCA 93

In the Matter of Paul Alebakis White, Clyde Peter (As Trustee of the Bankrupt estate of Paul Alebakis) v Alebakis, John & Anor [1997] FCA 93

The Court found that in April 1994 the bankrupt made an agreement with his mother for sale of his interest in the land to his parents in consideration of her paying $30,000 to be applied in discharging debts of the building business, and that the instrument of transfer was executed and registered in performance of that agreement. On those findings, ss.120 and 122 of the Bankruptcy Act 1966 did not invalidate the transfer, so the trustee's application failed.

Jurisdiction
Australia
Judgment Date
18 February 1997
Procedural Posture
Application by Trustee in Bankruptcy for a Declaration That an Instrument of Transfer of the Bankrupt's Interest in Jointly Owned Land to His Parents Is Void as Against the Trustee / Trial; Reasons for Judgment and Orders
Outcome
Application dismissed with costs.
Legal Topics
["transfer of Bankrupt's Interest in Land" 'void Transactions' 'preferences' 'consideration for Transfer']
['bankruptcy' 'property'] ["transfer of Bankrupt's Interest in Land" 'void Transactions' 'preferences' 'consideration for Transfer']

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Procedural Posture

Application by Trustee in Bankruptcy for a Declaration That an Instrument of Transfer of the Bankrupt's Interest in Jointly Owned Land to His Parents Is Void as Against the Trustee / Trial; Reasons for Judgment and Orders

Legal Issues

  1. 1 ["Whether the transfer of the bankrupt's interest in jointly owned land to his parents was void as against the trustee under s.120 or s.122 of the Bankruptcy Act 1966" "Whether the transfer was made in performance of an oral agreement in April 1994 for sale of the bankrupt's interest in the land in consideration of $30,000 being paid to discharge business debts"]

Ratio Decidendi

The Court found that in April 1994 the bankrupt made an agreement with his mother for sale of his interest in the land to his parents in consideration of her paying $30,000 to be applied in discharging debts of the building business, and that the instrument of transfer was executed and registered in performance of that agreement. On those findings, ss.120 and 122 of the Bankruptcy Act 1966 did not invalidate the transfer, so the trustee's application failed.

Court Disposition

Application dismissed with costs.

Orders

  • ['The application be dismissed.' "The respondents' costs of the application be taxed and paid by the applicant."]