McBain v Parsons [2000] FCA 935

FEDERAL COURT OF AUSTRALIA

McBain v Parsons [2000] FCA 935

BANKRUPTCY – transfer of matrimonial home by bankrupt to wife subject to existing mortgage – stated consideration entitlement in equity – claim by trustee to set aside transfer – financial contributions by wife to acquisition of home – whether common intention constructive trust – whether valid as against trustee – mortgage executed when title in bankrupt's name – mortgage loan necessary for survival of business which provided family income – whether any benefit for wife – whether equity of exoneration applied Bankruptcy Act 1996 (Cth) ss 120, 121

Baumgartner v Baumgartner (1987) 164 CLR 137 followed Green v Green (1989) 17 NSWLR 343 at 354-355 followed Re Osborn; Ex parte Trustee of the Property of Osborn (A Bankrupt) v Osborn (1989) 25 FCR 547 followed Farrugia v Official Receiver (1982) 43 ALR 700 at 702 distinguished Re Popescu; Popescu v Official Trustee in Bankruptcy (1995) 55 FCR 583 applied Re Pittortou [1985] 1 All ER 285 at 288 applied N.A. Kratzmann Pty Ltd (In Liquidation) v Tucker [No 1] (1966) 123 CLR 257 at 283 applied ROGER GEOFFREY McBAIN The Trustee of the estate of Peter Frederick Parsons (A Bankrupt) v BRONWYN ALICE PARSONS NO. T 7006 of 2000 ROGER GEOFFREY McBAIN The Trustee of the estate of Geoffrey James Parsons (A Bankrupt) v CATHRYN MAREE PARSONS NO. T 7007 of 2000 HEEREY J 11 JULY 2000 HOBART

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY T 7006 of 2000

BETWEEN: ROGER GEOFFREY McBAIN The Trustee of the estate of Peter Frederick Parsons (A Bankrupt)

Applicant

AND: BRONWYN ALICE PARSONS

Respondent

T 7007 of 2000

BETWEEN: ROGER GEOFFREY McBAIN The Trustee of the estate of Geoffrey James Parsons (A Bankrupt)