Jessup (Trustee) v Mountain View Farm [2002] FCA 312

FEDERAL COURT OF AUSTRALIA

Jessup (Trustee) v Mountain View Farm [2002] FCA 312

BANKRUPTCY – transfer of property to family trust for value by a person who about two years later became bankrupt – whether the transferee was obliged at the time of the transfer reasonably to infer that the bankrupt was insolvent or was about to become insolvent – whether a transfer is fraudulent because it was entered in contemplation of the transferor entering into a risky and hazardous business Bankruptcy Act 1966 (Cth), ss 31, 120, 121 Bankruptcy Act 1924 (Cth), s 52(b)

Sharrment Pty Ltd v Official Trustee in Banktuptcy (1988) 18 FCR 449, cited Barton v DCT (1974) 131 CLR 370, cited PT Garuda Indonesia Ltd v Grellman (1992) 107 ALR 199, cited Mackay v Douglas (1872) LR 14 Eq 106, cited Official Trustee v Alvaro (1996) 138 ALR 341, cited Ex parte Russell; Re Butterworth (1882) 19 Ch D 588, cited Official Trustee v Alvaro (1996) 138 ALR 341, cited

Lewis, A. (1995) Australian Bankruptcy Law, 4th ed., Sydney: The Law Book Company Limited IAN DAVID JESSUP as Trustee of the Estate of GEORGE KEVIN WILSON (a bankrupt) v MOUNTAIN VIEW FARM PTY LTD & OTHERS No Q 7235 of 2000 SPENDER J BRISBANE (heard in Cairns) 20 MARCH 2002

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q 7235 OF 2000

BETWEEN: IAN DAVID JESSUP as Trustee of the Estate of GEORGE KEVIN WILSON (a bankrupt), Estate No. Qld. 3549/97/61V

APPLICANT

AND: MOUNTAIN VIEW FARM PTY LTD (ACN 070 315 338) as Trustee for the Wilson Family Discretionary Trust

FIRST RESPONDENT

GEORGE KEVIN WILSON (a bankrupt)

SECOND RESPONDENT

MAUREEN GUAT WILSON

THIRD RESPONDENT

JUDGE: SPENDER J

DATE OF ORDER: 20 MARCH 2002

WHERE MADE: BRISBANE (heard in Cairns)