Federal Court of Australia
CATCHWORDS
BANKRUPTCY - encumbrance granted by bankrupt - whether granted in good faith and for valuable consideration — alleged family arrangement - agreement to buy brother's interest in father's estate - whether genuine ~ whether agreement to grant mortgage - past consideration - mortgage not supported by valuable consideration.
Bankruptcy Act 1966, s.120(1)
RE: TEDROS NADER
EX PARTE: OFFICIAL TRUSTEE IN BANKRUPTCY
Applicant AND: TEDROS NADER NAWAL NADER GEORGE NADER JIM NADER Respondents
No. W963 of 1985
Morling J. 25 August 1988
Sydney
IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION
OF NEW SOUTH WALES AND THE
) ) BANKRUPTCY DISTRICT OF THE STATE ) No. W963 of 1985 ) )
AUSTRALIAN CAPITAL TERRITORY
JUDGE MAKING ORDER
DATE OF ORDER
WHERE MADE
RE: TEDROS NADER EX PARTE: OFFICIAL TRUSTEE IN BANKRUPTCY Applicant AND: TEDROS NADER NAWAL NADER GEORGE NADER JIM NADER Respondents
MINUTE OF ORDER
Morling J.
25 August 1988
oo
Sydney
THE COURT DECLARES AND ORDERS AS FOLLOWS:
1.
NOTE:
Declare that the mortgage granted by Tedros Nader and Nawal Nader over the land in Certificate of Title Volume 6764 Folio 181 in favour of George Nader is void as against the applicant as trustee of the bankrupt estate of Tedros Nader.
Order that the first, second and third respondents pay the applicant's costs.
Settlement and entry of orders is dealt with in Rule 124 of the Bankruptcy Rules.
IN THE FEDERAL COURT OF AUSTRALIA )
GENERAL DIVISION )
BANKRUPTCY DISTRICT OF THE STATE ) No. W963 of 1985 ) )
OF NEW SOUTH WALES AND THE AUSTRALIAN CAPITAL TERRITORY
RE: TEDROS NADER
EX PARTE: OFFICIAL TRUSTEE IN BANKRUPTCY
Applicant AND: TEDROS NADER NAWAL NADER GEORGE NADER JIM NADER Respondents Morling, J. 25 August 1988
REASONS FOR JUDGMENT
Tedros Nader became bankrupt on his own petition on 18 October 1985. At that date he was the registered proprietor with Nawal Nader of land at Yagoona. In the bankrupt's statement of affairs his brother George Nader was disclosed as a secured creditor to whom the sum of $100,000 was owed. The security was stated to be an unregistered mortgage over the Yagoona property. In these proceedings the bankrupt's trustee in bankruptcy seeks a declaration that the granting of the mortgage is void as against hin. He claims that the
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate