Smith v Edward [2006] NFSC 11

Smith v Edward [2006] NFSC 11

The conveyance of Portion 52K by the first defendant to the third defendant for nominal consideration shortly after notice of impending legal action amounted to a fraudulent conveyance intended to defeat creditors; the transfer and life estate were set aside according to the governing statute.

Jurisdiction
Australia
Judgment Date
08 December 2006
Procedural Posture
Property / Civil / Post Judgment Enforcement, Application to Set Aside Conveyance
Outcome
Application granted. Conveyance and life interest set aside. Property to be made available for satisfaction of plaintiffs' judgments. Costs to plaintiffs.
Legal Topics
['fraudulent Conveyances' 'setting Aside Transfers to Defeat Creditors' 'application of Imperial Statutes' 'judgment Enforcement' 'consideration in Transfers']
['property Law' 'fraudulent Conveyancing' 'enforcement of Judgments'] ['fraudulent Conveyances' 'setting Aside Transfers to Defeat Creditors' 'application of Imperial Statutes' 'judgment Enforcement' 'consideration in Transfers']

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 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Property / Civil / Post Judgment Enforcement, Application to Set Aside Conveyance

Legal Issues

  1. 1 ['Whether the Fraudulent Conveyances Act 1571 (13 Eliz 1.c.5) applies to Norfolk Island' 'Whether the transfer of Portion 52K and creation of a life interest should be set aside as a fraudulent conveyance' 'Whether the conveyance was for valuable consideration' 'Whether the intention was to defeat creditors']

Ratio Decidendi

The conveyance of Portion 52K by the first defendant to the third defendant for nominal consideration shortly after notice of impending legal action amounted to a fraudulent conveyance intended to defeat creditors; the transfer and life estate were set aside according to the governing statute.

Court Disposition

Application granted. Conveyance and life interest set aside. Property to be made available for satisfaction of plaintiffs' judgments. Costs to plaintiffs.

Orders

  • ['Colin Francis Edward joined as third defendant to each proceeding SC 7, 8 and 9 of 2004.' 'The conveyance of Portion 52K and the life interest created on 19 September 2003 recorded in Absolute Sale or Conveyance 1408 are set aside.' 'First and third defendants to do all things necessary to make the property in...