McVey v State of New South Wales, in the matter of McVey (Bankrupt) [2012] FCA 455

McVey v State of New South Wales, in the matter of McVey (Bankrupt) [2012] FCA 455

Mrs McVey was under a liability not discharged by the Bankruptcy Act in respect of the disclaimed property due to the mortgage, had made all ongoing payments, the property was her home and only significant asset, and it is just and equitable for the property to vest in her. Consent from all relevant parties further supported the order.

Jurisdiction
Australia
Judgment Date
02 May 2012
Procedural Posture
Bankruptcy Application / Judgment
Outcome
Application granted
Legal Topics
['vesting Order' 'disclaimed Property' 'liability Under Mortgage']
['bankruptcy'] ['vesting Order' 'disclaimed Property' 'liability Under Mortgage']

Case Brief

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Procedural Posture

Bankruptcy Application / Judgment

Legal Issues

  1. 1 ['Whether Mrs McVey is entitled to a vesting order under s 133(9) of the Bankruptcy Act 1966 (Cth) for property disclaimed by the bankruptcy trustee']

Ratio Decidendi

Mrs McVey was under a liability not discharged by the Bankruptcy Act in respect of the disclaimed property due to the mortgage, had made all ongoing payments, the property was her home and only significant asset, and it is just and equitable for the property to vest in her. Consent from all relevant parties further supported the order.

Court Disposition

Application granted

Orders

  • ['The estate in fee simple in the land described in Folio Identifier 17/250194 vest in Kay McVey, who becomes sole registered proprietor pursuant to s 133(9) Bankruptcy Act 1966 (Cth).' 'Each party pay its own costs.']