Whitton as Trustee of the Estate of John Emmanuel Rose v Regis Towers Real Estate Pty Ltd (In Administration) [2007] FCAFC 125

FEDERAL COURT OF AUSTRALIA

Whitton as Trustee of the Estate of John Emmanuel Rose v Regis Towers Real Estate Pty Ltd (In Administration) [2007] FCAFC 125 BANKRUPTCY – whether person was about to become insolvent – insolvency not established merely by deficiency of assets over liabilities – liabilities included non-current interest bearing liabilities – no suggestion certain liabilities were due and payable – voluntary provision of unsecured funds. PROPERTY – transfer of new interest in property – when void as against trustee. DEBT – proof of debt – balancing journal entries in accounts – whether prima facie evidence of actual transactions – entries unreliable – accounts not supporting proof of debt – independent attempt to establish debt unsuccessful – case not proved. WORDS AND PHRASES – solvent – was about to become insolvent – transfer of property – property that did not previously exist.

Bankruptcy Act 1966 (Cth) s 5, s 5(2), s 5(3), s 104, s 121(1), s 121(2), 121(9)(b) Corporations Act 2001 (Cth) s 95A, s 1305 Peldan v Anderson(2006) 80 ALJR 1588; 229 ALR 432 Lewis v Doran (2005) 219 ALR 555 Lewis v Doran (2004) 184 FLR 454 Sandell v Porter (1966) 115 CLR 666 Quick v Stoland Pty Ltd (1998) 87 FCR 371 Ashton v Prentice [1998] FCA 1081 Ashton v Prentice [1998] FCA 1338 Ashton v Prentice [1998] FCA 1464 Ashton v Prentice [1998] FCA 1583 Re Jury; Ashton v Prentice (1999) 92 FCR 68 In the matter of Rose, A Bankrupt; Whitton v Regis Towers Real Estate Pty Ltd (In administration) [2006] FCA 1553 In the matter of Rose, a Bankrupt; Whitton v Regis Towers Real Estate Pty Ltd (In administration) (No 2) [2006] FCA 1734

ROBERT WILLIAM WHITTON AS TRUSTEE OF THE ESTATE OF JOHN EMMANUEL ROSE, A BANKRUPT v REGIS TOWERS REAL ESTATE PTY LIMITED (IN ADMINISTRATION) and REGIS TOWERS REAL ESTATE PTY LIMITED (IN ADMINISTRATION) (Cross-Appellant) v ROBERT WILLIAM WHITTON AS TRUSTEE OF THE ESTATE OF JOHN EMMANUEL ROSE, A BANKRUPT (Cross-Respondent) NSD 2392 OF 2006 REGIS TOWERS REAL ESTATE PTY LIMITED (IN ADMINISTRATION) v ROBERT WILLIAM WHITTON AS TRUSTEE OF THE ESTATE OF JOHN EMMANUEL ROSE, A BANKRUPT NSD 2400 OF 2006