In the Matter of the Bankrupt Estate of Willis, Perry; Jones, Michael Gregory [1998] FCA 669

In the Matter of the Bankrupt Estate of Willis, Perry; Jones, Michael Gregory [1998] FCA 669

The Parramatta property, as property acquired by the bankrupt from compensation for personal injury, is not property divisible among creditors under s 116(2)(n) of the Bankruptcy Act 1966 and therefore does not vest in the trustee.

Parties
Applicant: Michael Gregory Jones; Bankrupt: Perry Willis
Jurisdiction
Australia
Judgment Date
06 February 1998
Procedural Posture
Application for Directions in Bankruptcy / Final Judgment
Outcome
Declaration that the land is not property divisible amongst the creditors of the bankrupt; directions and liberty to apply granted.
Legal Topics
Divisibility of Property in Bankruptcy Estate, Property Acquired From Compensation Payout, Bankruptcy Act S 116(2)(n)
Bankruptcy Divisibility of Property in Bankruptcy Estate Property Acquired From Compensation Payout Bankruptcy Act S 116(2)(n)

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Parties

Michael Gregory Jones

Applicant

Perry Willis

Bankrupt

Procedural Posture

Application for Directions in Bankruptcy / Final Judgment

Legal Issues

  1. 1 Whether the Parramatta property is property divisible amongst creditors of the bankrupt under s 116(1) or excepted under s 116(2)(n) of the Bankruptcy Act 1966
  2. 2 Whether the bankruptcy trustee is entitled to sell or otherwise deal with the property

Ratio Decidendi

The Parramatta property, as property acquired by the bankrupt from compensation for personal injury, is not property divisible among creditors under s 116(2)(n) of the Bankruptcy Act 1966 and therefore does not vest in the trustee.

Court Disposition

Declaration that the land is not property divisible amongst the creditors of the bankrupt; directions and liberty to apply granted.

Orders

  • The land described as lot 31 in strata plan 9260, located at Parramatta and referred to in folio identifier 31/SP9260, is not property divisible amongst the creditors of the bankrupt.
  • The trustee is to take such steps as he can to have the Registrar-General record the bankrupt as proprietor of the land.