Re Brunner, Peter William Ex Parte The Official trustee in Bankruptcy [1984] FCA 177

Re Brunner, Peter William Ex Parte The Official trustee in Bankruptcy [1984] FCA 177

The advance of $10,000 was a genuine loan; Mrs Brunner acted in good faith and provided valuable consideration via a contractual promise to repay the money with interest and on demand, fulfilling requirements of s.120(1) of Bankruptcy Act 1966. No evidence supports constructive trust or equitable sharing of property.

Parties
Applicant: The Official Trustee in Bankruptcy; First Respondent: Peter William Brunner; Second Respondent: Jennifer Enid Brunner
Jurisdiction
Australia
Judgment Date
03 July 1984
Procedural Posture
Bankruptcy Application / Judgment at First Instance
Outcome
Application dismissed with costs to respondents
Legal Topics
Preference, Good Faith, Valuable Consideration, Constructive Trust
Bankruptcy Preference Good Faith Valuable Consideration Constructive Trust

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Parties

The Official Trustee in Bankruptcy

Applicant

Peter William Brunner

First Respondent

Jennifer Enid Brunner

Second Respondent

Procedural Posture

Bankruptcy Application / Judgment at First Instance

Legal Issues

  1. 1 Whether the loan transaction between bankrupt and wife constitutes a 'settlement of property' under s.120(1) of the Bankruptcy Act 1966
  2. 2 Whether wife was a purchaser in good faith for valuable consideration
  3. 3 Whether property was held on constructive trust or should be shared

Ratio Decidendi

The advance of $10,000 was a genuine loan; Mrs Brunner acted in good faith and provided valuable consideration via a contractual promise to repay the money with interest and on demand, fulfilling requirements of s.120(1) of Bankruptcy Act 1966. No evidence supports constructive trust or equitable sharing of property.

Court Disposition

Application dismissed with costs to respondents

Orders

  • Application dismissed
  • Applicant to pay respondents' costs