Re Hatzinarcos, Peter Ex Parte Dixon, Thomas William Frederick & Ors [1984] FCA 278

Re Hatzinarcos, Peter Ex Parte Dixon, Thomas William Frederick & Ors [1984] FCA 278

The transfer of property by the bankrupt and his wife to their sons was for full market value and in good faith, with no evidence of sham or improper knowledge regarding bankruptcy. Therefore, section 120(1)(a) of the Bankruptcy Act 1966 is satisfied and the disposition is not void.

Parties
Applicant: Thomas William Frederick Dixon; Respondent: Koula Hatzimarcos; Respondent: Con Hatzimarcos; Respondent: Noel Hatzimarcos; Bankrupt: Peter Hatzimarcos (also known as Peter Hatzimarkou)
Jurisdiction
Australia
Judgment Date
11 September 1984
Procedural Posture
Application Under Bankruptcy Act S.120(2) / Final Order and Judgment
Outcome
Application dismissed.
Legal Topics
Voidable Dispositions, Good Faith, Valuable Consideration
Bankruptcy Voidable Dispositions Good Faith Valuable Consideration

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Parties

Thomas William Frederick Dixon

Applicant

Koula Hatzimarcos

Respondent

Con Hatzimarcos

Respondent

Noel Hatzimarcos

Respondent

Peter Hatzimarcos (also known as Peter Hatzimarkou)

Bankrupt

Procedural Posture

Application Under Bankruptcy Act S.120(2) / Final Order and Judgment

Legal Issues

  1. 1 Whether the transfer of property by the bankrupt to his sons is void under s.120 of the Bankruptcy Act 1966
  2. 2 Whether the disposition was made in good faith
  3. 3 Whether the disposition was made for valuable consideration

Ratio Decidendi

The transfer of property by the bankrupt and his wife to their sons was for full market value and in good faith, with no evidence of sham or improper knowledge regarding bankruptcy. Therefore, section 120(1)(a) of the Bankruptcy Act 1966 is satisfied and the disposition is not void.

Court Disposition

Application dismissed.

Orders

  • The application is dismissed.
  • The costs of the parties are to be paid out of the estate of the bankrupt.