Silvia (Trustee) v Williams, in the matter of Williams (Bankrupt) [2018] FCA 189

FEDERAL COURT OF AUSTRALIA

Silvia (Trustee) v Williams, in the matter of Williams (Bankrupt) [2018] FCA 189 File number: NSD 1527 of 2015

Judge: WIGNEY J

Date of judgment: 2 March 2018

Catchwords: BANKRUPTCY AND INSOLVENCY – transfer of property – value of consideration – whether transferee gave no consideration for the transfer – transfer of property for the purposes of Bankruptcy Act 1966 (Cth), s120(1) – whether transfer of funds was a transfer of property for the purposes of Bankruptcy Act 1966 (Cth), 120(1) – where transfer of property includes transfer of money in accordance with Bankruptcy Act 1966 (Cth), 120(7) – voidable transfers EQUITY – claimed presumption of a trust in favour of the bankrupt TRUSTS AND TRUSTEES – bankruptcy – whether funds transferred held on trust – where trustee seeks declaratory and other relief in order to recover property from bankrupt spouse for the benefit of the estate – whether proceeds of sale of property were held on trust for bankrupt where legal title in one name only – whether the bankrupt's beneficial interest in half the proceeds of sale vested in trustee upon bankruptcy – principles outlined in Allen v Snyder [1977] 2 NSWLR 685 – "common intention" trusts – "common intention" that property be held on trust – inference that property was intended to be matrimonial home – whether husband and wife held title in the matrimonial home as joint tenants or as beneficial tenants in common in shares in the proportions in which they had contributed to the purchase price

Legislation: Bankruptcy Act 1966 (Cth), ss 120, 121 Federal Court Rules 2011 (Cth), r 16.02