27 Nov 2008
COOK V THE OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF PETER WILLIAM COOK HC AK CIV-2007-404-000141
- Citation
- openlaw-74d40781_6a2b_4527_b5eb_76b85b1fae9d.pdf
- Court
- High Court
The trustee (donor in a different capacity) failed to prove under s54(2) that he was able to pay all debts without the aid of the gifted property, including contingent guarantee liabilities; the gifts were therefore voidable and recoverable under s58(2)(b); the Court refused discretionary relief under s58(6) and ordered payment of $30,000 to the Official Assignee with interest at 7% per annum from 25 July 2007.