Federal Court of Australia
CATCHWORDS BANKRUPTCY - appeal against order granting leave to the Official Trustee pursuant to s.135(1)(b) of the Bankruptcy Act 1966 (Cth) to sell and assign to the bankrupt choses in action vested in the Official Trustee as trustee of the bankrupt estate of the bankrupt and his wife - whether the Court may grant leave in terms which do not identify the precise causes of action to be assigned - whether trustee is to be satisfied that the causes of action to be assigned have a reasonable prospect of success - whether trustee or the Court should refuse to authorise sale and assignment of choses in action that plainly have no prospect of success - whether assignment of choses in action vested in a bankrupt estate may be sold and assigned where the proposed defendant asserts a cross-claim against the bankrupt Bankruptcy Act (Cth) ss 5, 60(3), 68, 134, 135, 178 Bankruptcy Rules (Cth) r 45AA Limitations of Action Act 1936 (SA) Seear v Lawson (1880) 15 Ch D 426 Guy v Churchill (1888) 40 Ch D 481 Ramsey v Hartley [1977] 1 WLR 686 Re Nguyen; Ex parte Official Trustee in Bankruptcy (1992) 35 FCR 320 Cotterill v Bank of Singapore (Australia) Ltd (1995) 37 NSWLR 238 Kitson v Hardwick (1872) LR 7 CP 473 Gould and Anor v Vaggelas and Others (1985) 157 CLR 215 Adsett v Berlouis (1992) 37 FCR 201 re Park Gate Waggon Works Company (1881) 17 Ch D 234 re Gargan v The Official Trustee (unreported, Federal Court, Drummond J, 18 August 1995) re Gargan v Official Trustee (unreported, Full Federal Court, 9 November 1995) Stein v Blake [1993] 3 WLR 718 Stein v Blake [1996] 1 AC 243 Genman Pty Ltd and Anor v Beneficial Finance Corporation Ltd (unreported, Federal Court, 2 July 1991) Gye v McIntyre (1991) 171 CLR 609 Re Capel; Ex parte Marac Finance Australia Ltd v Capel (1994) 48 FCR 195 Re Turner; Ex parte Mulley (unreported Federal Court, 22 June 1995) Matter No. SG 40 of 1996 CITICORP AUSTRALIA LIMITED, JOHN HAROLD HEARD and STEPHEN ELLIOTT YOUNG v OFFICIAL TRUSTEE IN BANKRUPTCY and VINCENZO CIRILLO Foster, von Doussa & Sundberg JJ Adelaide 16 December 1996
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