Wright Designed Pty Limited (Subject to Deed of Company Arrangement) v McClymont, in the matter of McClymont [2006] FCA 999

FEDERAL COURT OF AUSTRALIA

Wright Designed Pty Limited (Subject to Deed of Company Arrangement) v McClymont, in the matter of McClymont [2006] FCA 999 BANKRUPTCY – proceedings in connection with sequestration – petition and sequestration order – irregularities with petition and amendment - error in creditor's petition – where creditor's petition wrongly alleged creditor was unsecured– creditor's petition held to be defective REAL PROPERTY – equitable interests in land - charge over land under the Home Building Act 1989 (NSW) – where caveat lodged in respect of charge – where creditor's petition alleged creditor unsecured– whether charge was a security and interest in land Held – charge over land held to be security; creditor's petition held to be defective; creditor's petition dismissed. Bankruptcy Act 1966(Cth) ss 33(1)(b), 44(2), 44(3), 44(4), 44(5), 306 Home Building Act 1989 (NSW) ss 7D(1), 7D(3), 18Q Real Property Act 1900 (NSW) ss 3, 5, 41, 56 Adams v Lambert (2006) 225 ALR 396 cited Barry v Heider (1914) 19 CLR 197 applied Bryant v Commonwealth Bank of Australia (unreported FCAFC 24 November 1995) cited Chan v Cresdon Pty Limited (1989) 168 CLR 242 applied Ex parte Leung (1986) 9 FCR 518 cited Hall v Richards (1961) 108 CLR 84 considered Harvey v Commercial Bank of Australia Ltd (1937) 58 CLR 382 cited MacDonald v Official Trustee in Bankruptcy (2001) 107 FCR 72 cited McClymont v Wright Designed Pty Limited [2006] FMCA 4 cited Montagu v The Earl of Sandwich (1885) 32 Ch D 525 approved Re A Debtor [1943] 1 Ch 210 discussed In Re A Debtor; Ex parte Okill v The Debtor; Okill v Gething [1977] 1 WLR 1308 cited Re Finn; Ex parte Finn Amoco Australia Limited (1982) 41 ALR 487; 58 FLR 54 cited Re Florance; Ex parte Turimetta Properties Pty Ltd (1979) 28 ALR 403; 39 FLR 400 cited Re Kwiatek; Ex parte Big J Ltd v Pattison (1980) 21 FCR 374 cited Re Nolan; Ex parte Westpac Banking Corporation (unreported FCA 4 October 1996) Kiefel J cited Re O'Leary; Ex parte Bayne (1985) 61 ALR 674 cited Re Roberts; Ex parte Australian Telecom Employees Credit Co-operative Ltd (1982) 84 FLR 88 applied Re Sarina; Ex parte Wollondilly Shire Council (1980) 32 ALR 596 discussed Re Vassis; Ex parte Leung (1986) 9 FCR 518 cited Re Wiggins; Ex parte Credit Assistance Pty Ltd (1979) 30 ALR 443; 36 FLR 182 cited IN THE MATTER OF SELMA McCLYMONT AND GRAHAM McCLYMONT WRIGHT DESIGNED PTY LIMITED (SUBJECT TO DEED OF COMPANY ARRANGEMENT) ACN 094 558 200 v SELMA McCLYMONT & ANOR NSD 603 OF 2006 RARES J 4 AUGUST 2006 SYDNEY IN THE FEDERAL COURT OF AUSTRALIA