Wakeling v Wade [2011] FCA 1292

FEDERAL COURT OF AUSTRALIA

Wakeling v Wade [2011] FCA 1292 Citation: Wakeling v Wade [2011] FCA 1292

Parties: DONALD WILLIAM WAKELING v DAWN FLORENCE WADE and PAUL ANDREW LEROY SOUAD CLARKE and MATTHEW TRNKA v PAUL ANDREW LEROY, DONALD WILLIAM WAKELING and DAWN FLORENCE WADE

File number(s): NSD 212 of 2010 NSD 986 of 2010

Judge: NICHOLAS J

Date of judgment: 15 November 2011

Catchwords: BANKRUPTCY – whether various causes of action vested in trustee in bankruptcy – where former bankrupt has relied upon causes of action in proceedings commenced by her in New South Wales Supreme Court after discharge from bankruptcy – whether defendant to Supreme Court proceedings is entitled to declarations that causes of action vested in former bankrupt's trustee in bankruptcy – whether purported assignments to bankrupt of various companies' causes of action are enforceable – purported assignments of companies' causes of action not enforceable – where companies deregistered – companies' causes of action vest in Australian Securities and Investments Commission EQUITY – deeds of assignment – whether deeds of assignment enforceable – assignments of bare causes of action – purported assignee having no genuine commercial interest in causes of action – deeds of assignment unenforceable either as assignment of bare causes of action in tort or as assignment of bare causes of action in which assignee has no genuine commercial interest TRUSTS AND TRUSTEES – whether causes of action were held on trust by bankrupt for her son so as not to constitute property of the bankrupt vested in her trustee in bankruptcy – evidence not establishing existence of trust – causes of action vested in bankrupt's trustee in bankruptcy