Moya Pty Ltd v State of New South Wales, in the matter of Vapula Pty Limited (in liq) [2022] FCA 1217

Moya Pty Ltd v State of New South Wales, in the matter of Vapula Pty Limited (in liq) [2022] FCA 1217

The conditions in s 568F of the Corporations Act 2001 (Cth) are satisfied, and it is appropriate to exercise the Court's discretion to make a vesting order vesting the relevant property in the plaintiff mortgagee, subject to obligations regarding accounting for and distributing any surplus.

Parties
Plaintiff: Moya Pty Ltd ACN 101 067 261; First Defendant: State of New South Wales; Second Defendant: Commonwealth of Australia; Third Defendant: Robyn Duggan as liquidator of Vapula Pty Limited (in liquidation) ACN 106 275 914; Fourth Defendant: Vapula Pty Limited (in liquidation) ACN 106 275 914; Fifth Defendant: The Church of Jesus Christ of Latter-day Saints
Jurisdiction
Australia
Judgment Date
12 October 2022
Procedural Posture
Corporations Application / Judgment on Application for Vesting Orders
Outcome
Orders made vesting the estates in fee simple in the plaintiff, subject to conditions
Legal Topics
Disclaimer of Property, Vesting Orders, Mortgages Over Disclaimed Property
Corporations Law Insolvency Law Disclaimer of Property Vesting Orders Mortgages Over Disclaimed Property

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 4 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Moya Pty Ltd ACN 101 067 261

Plaintiff

State of New South Wales

First Defendant

Commonwealth of Australia

Second Defendant

Robyn Duggan as liquidator of Vapula Pty Limited (in liquidation) ACN 106 275 914

Third Defendant

Vapula Pty Limited (in liquidation) ACN 106 275 914

Fourth Defendant

The Church of Jesus Christ of Latter-day Saints

Fifth Defendant

Procedural Posture

Corporations Application / Judgment on Application for Vesting Orders

Legal Issues

  1. 1 Whether the statutory conditions for making a vesting order under s 568F(1)(a) of the Corporations Act 2001 (Cth) are met
  2. 2 Whether the court should exercise its discretion to make the vesting order

Ratio Decidendi

The conditions in s 568F of the Corporations Act 2001 (Cth) are satisfied, and it is appropriate to exercise the Court's discretion to make a vesting order vesting the relevant property in the plaintiff mortgagee, subject to obligations regarding accounting for and distributing any surplus.

Court Disposition

Orders made vesting the estates in fee simple in the plaintiff, subject to conditions

Orders

  • The estates in fee simple in land in folio identifiers 6/SP85572 and 8/SP85572 the subject of the disclaimer vest in Moya Pty Ltd pursuant to s 568F(1)(a) of the Corporations Act 2001 (Cth), subject to conditions regarding holding, dealing, sale and accounting for proceeds.
  • The plaintiff holds and deals with the estates as registered proprietor.