McBain (Trustee) in the matter of Turner (Bankrupt) v Palffy [2009] FCA 260

FEDERAL COURT OF AUSTRALIA

McBain (Trustee) in the matter of Turner (Bankrupt) v Palffy [2009] FCA 260

BANKRUPTCY – whether a transfer is void against the applicant pursuant to s 120 of the Bankruptcy Act 1966 (Cth) – whether the transfer of property was effected for less than market value – whether the bankrupt was solvent at the date of the transfer Bankruptcy Act 1966 (Cth) ss 5, 120, 121 Corporations Act 2001 (Cth) s 95A Lewis v Doran (2004) 184 FLR 454 referred to Bank of Australasia v Hall (1907) 4 CLR 1514 applied Re Saebar; Official Receiver v Saebar (1971) 18 FLR 317 followed Re Hyams; Official Reciever v Hyams (1971) 19 FLR 232 followed Re Cao, ex parte Dixon v Cao [1994] FCA 536 followed Re Ridler; Ridler v Ridler (1882) 22 Ch.D. 74 cited Re Finney; Official Trustee in Bankruptcy v Finney (1996) 35 ATR 259 followed White Constructions (ACT) Pty Ltd (In Liq) v White (2004) 49 ACSR 220 distinguished Box Valley Pty Ltd v Kidd [2006] NSWCA 26 distinguished Law Society of Tasmania v Turner (2001) 11 Tas R 1 referred to Fouche v Superannuation Fund Board (1952) 88 CLR 609 referred to ROGER GEOFFREY MCBAIN AS TRUSTEE IN BANKRUPTCY OF THE BANKRUPT ESTATE OF JOHN THOMAS TURNER v ANNA LISA PALFFY and MATTHEW JOHN TURNER

TAD 11 of 2008

MARSHALL J

24 MARCH 2009

HOBART IN THE FEDERAL COURT OF AUSTRALIA

TASMANIA DISTRICT REGISTRY TAD 11 of 2008

IN THE MATTER OF THE BANKRUPT ESTATE OF JOHN THOMAS TURNER BETWEEN: ROGER GEOFFREY MCBAIN AS TRUSTEE IN BANKRUPTCY OF THE BANKRUPT ESTATE OF JOHN THOMAS TURNER

Applicant

AND: ANNA LISA PALFFY

First Respondent

MATTHEW JOHN TURNER

Second Respondent

JUDGE: MARSHALL J

DATE OF ORDER: 24 MARCH 2009

WHERE MADE: HOBART

THE COURT DECLARES THAT:

1. The transfer of the subject property by John Thomas Turner to the respondents made on 10 April 2002 is void against the applicant pursuant to s 120 of the Bankruptcy Act 1966 (Cth).