National Australia Bank Ltd v Leroy & Ors, in the matter of Woo & Ors [2003] FCA 862

FEDERAL COURT OF AUSTRALIA

National Australia Bank Ltd v Leroy & Ors, in the matter of Woo & Ors [2003] FCA 862

BANKRUPTCY – disclaimed property – property of bankrupt burdened with onerous covenants – registered mortgagee entitled to vesting order under s 133(9)

BANKRUPTCY – power of court to convert joint tenancy to tenancy in common in conjunction with s 133(9) vesting order Re Hopgood 18 ABC 133, referred to Re Weiland (Deceased) (1944-45) 13 ABC 220, not followed Re Tulloch Ltd (In Liquidation) (1978) 3 ACLR 808, applied

Bankruptcy Act 1966 (Cth) ss 133(1AA), 133(3), 133(9) NATIONAL AUSTRALIA BANK LIMITED v PAUL LEROY & ORS, IN THE MATTER OF DION JONATHAN WOO & ORS N7107 of 2003 MADGWICK J 29 JULY 2003 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N7107 OF 2003

BETWEEN: NATIONAL AUSTRALIA BANK LIMITED

APPLICANT

AND: PAUL LEROY

FIRST RESPONDENT

DION JONATHAN WOO SECOND RESPONDENT MILLIE SOO THIRD RESPONDENT STATE OF NEW SOUTH WALES FOURTH RESPONDENT

JUDGE: MADGWICK J

DATE OF ORDER: 29 JULY 2003

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The property having Folio Identifier 26/SP56081, known as 407/71-75 Regent Street, Chippendale, New South Wales, vest in the applicant as tenant in common in equal shares with the third respondent. 2. The applicant has the opportunity, within 48 hours, to bring into chambers the form of any appropriate costs orders that, on reflection, for which it wishes to apply. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N7107 OF 2003

BETWEEN: NATIONAL AUSTRALIA BANK LIMITED