Ng v Van Der Velde [2011] FCAFC 35

FEDERAL COURT OF AUSTRALIA

Ng v Van Der Velde [2011] FCAFC 35 Citation: Ng v Van Der Velde [2011] FCAFC 35

Appeal from: Van Der Velde v Ng (No 3) [2009] FCA 1563

Parties: KYM HON YOKE NG v TERRY VAN DER VELDE AND DAVID STIMPSON and RIBY PTY LTD (ACN 081 153 219) IN LIQUIDATION AS TRUSTEE FOR THE JADE TRUST

File number: QUD 4 of 2010

Judges: DOWSETT, EDMONDS AND GORDON JJ

Date of judgment: 15 March 2011

Catchwords: CORPORATE INSOLVENCY - consideration of whether particular arrangements for the transfer of trust property and the ultimate transfer of that trust property constitute transactions rendered voidable by operation of s 588FE of the Corporations Act 2001 (Cth) and whether the transfer of the property is rendered void by operation of s 468 of the Act FAMILY LAW – the interaction between s 90AC of the Family Law Act 1975 (Cth) and ss 588FA, 588FB and 588FDA of the Corporations Act 2001 (Cth) EVIDENCE - whether the Court should exercise its discretion under s 30AI of the Federal Court of Australia Act 1976 (Cth) to receive further evidence on appeal

Legislation: Corporations Act 2001 (Cth) ss 468, 471A, 474, 477, 588, 588FA, 588FB, 588FC, 588FD, 588FDA, 588FE Family Law Act 1975 (Cth) ss 4, 79, 90AA, 90AC, 90AE, 113, 114, 114AB Federal Court of Australia Act 1976 (Cth) s 30AI Trusts Act 1973 (Qld) ss 65, 71, 72 Companies Act 1961 (NSW) s 233 Companies Act 1961 (Qld) s 233

Cases cited: Federal Commissioner of Taxation v Bruton Holdings Pty Ltd (In Liquidation) & Ors (2008) 173 FCR 472 considered RWG Management Ltd v Commissioner for Corporate Affairs [1995] VR 385 followed Re Crest Realty Pty Ltd (in liquidation) (1977) 1 NSWLR 664 distinguished Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 distinguished Gronow M, McPherson's Law of Company Liquidations, (Thomson Law Book Co., subscription service) at [11.120] (update No 10) Heydon JD, Jacobs' Law of Trusts in Australia (7th ed, LexisNexis Butterworths, 2006)