Rambaldi (as Trustee of Bankrupt Estate of Volkov) v Volkov [2008] FCA 1957

FEDERAL COURT OF AUSTRALIA

Rambaldi (as Trustee of Bankrupt Estate of Volkov) v Volkov [2008] FCA 1957

GESS MICHAEL RAMBALDI (AS TRUSTEE OF THE BANKRUPT ESTATE OF STEFAN VOLKOV) v VALDA MAREE VOLKOV VID 97 of 2007

RYAN J

19 december 2008

MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 97 of 2007

BETWEEN: GESS MICHAEL RAMBALDI (AS TRUSTEE OF THE BANKRUPT ESTATE OF STEFAN VOLKOV)

Applicant

AND: VALDA MAREE VOLKOV

Respondent JUDGE: RYAN J DATE OF ORDER: 19 DECEMBER 2008

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT:

1. IT BE DECLARED THAT:

1.1 The land contained in Certificate of Title Volume 3225 Folio 952 together with the improvements thereon ("21 The Avenue Spotswood") vested in the applicant as trustee of the bankrupt estate of Stefan Volkov ("the bankrupt") pursuant to s 58 of the Bankruptcy Act 1966 (Cth) ("the Act"). 1.2 21 The Avenue, Spotswood is property available for distribution to the creditors of the bankrupt. 1.3 The financial agreement dated 18 January 2001 between the bankrupt and the respondent did not transfer, and is not capable of transferring, the bankrupt's then interest in 21 The Avenue, Spotswood to the respondent. 1.4 The respondent was, at the date of the bankruptcy, and has at all relevant times been, the sole beneficial owner of the land contained in Certificate of Title Volume 4743 Folio 477 together with the improvements thereon ("19 The Avenue Spotswood"). 1.5 The applicant holds 19 The Avenue, Spotswood on trust for the respondent absolutely and 19 The Avenue, Spotswood is not property available for distribution to the creditors of the bankrupt. 2. There be a stay of paragraph 1 of this Order until13th February 2009 or further order. 3. Each party file and serve, by 13 February 2009, written submissions as to any further orders, including any order as to costs, which that party contends should be made in light of the reasons published this day.