Credit Suisse AG v Gu (No 2) [2022] NSWSC 198

Supreme Court New South Wales

Medium Neutral Citation: Credit Suisse AG v Gu (No 2) [2022] NSWSC 198 Hearing dates: 2 March 2022 Date of orders: 3 March 2022 Decision date: 03 March 2022 Jurisdiction: Common Law Before: Davies J Decision: 1. The hearing of the proceedings fixed for 4 April 2022 is vacated. 2. These proceedings are transferred from this Court to the Federal Court of Australia pursuant to s 5(1)(b)(i) of the Jurisdiction of Courts (Cross-vesting) Act 1987 (Cth). 3. Costs thrown away by reason of the transfer reserved to the Federal Court. 4. Costs of the notice of motion filed 24 February 2022 be costs in the cause. Catchwords: CIVIL PROCEDURE – cross-vesting – transfer to Federal Court of Australia – related proceedings in Federal Court – special federal matter – property proceedings in Supreme Court – dispute over priorities of interests in land – bankruptcy of borrower/registered proprietor – proceedings in Federal Court for orders under ss 120 and 121 Bankruptcy Act arsing from interests of claimants – jurisdiction of Supreme Court in bankruptcy – more appropriate court - interests of justice Legislation Cited: Bankruptcy Act 1966 (Cth) ss 30,120,121 Conveyancing Act 1912 (NSW) s 12 Judiciary Act 1903 (Cth) s 39B Jurisdiction of Courts (Cross-vesting) Act 1987 (Cth) ss 3,5,6,12 Cases Cited: Bankinvest A G v Seabrook (1988) 14 NSWLR 711 BHP Billiton Ltd v Schultz (2004) 221 CLR 400; [2004] HCA 61 Docherty v Porter, in the matter of Docherty (Bankrupt) [2021] FCA 1227 Re Hamilton-Irvine (1990) 101 FLR 11 Seven Network (Operations) Limited v Harrison [2017] NSWSC 405 Truthful Endeavour Pty Ltd v Condon (Trustee), in the matter of Rayhill (2015) 233 FCR 174; [2015] FCAFC 70 Texts Cited: Nil Category: Procedural rulings Parties: Menghong (Michael) Gu (First Defendant) Great Lands Investment Pty Ltd (Second Defendant) Zhi Huang (Third Defendant) Ying Qin (Fourth Defendant) Zhenhua Zhang (Fifth Defendant) Po Hu (Sixth Defendant) Hongyun Liu (Seventh Defendant) I-Prosperity Pty Ltd (In Liquidation) (Eighth Defendant) Jing Spring Hill Pty Ltd (Ninth Defendant) Liyun Liu (Tenth Defendant) Representation: Counsel: J Wherrett (Second Defendant) S Docker (Third-Sixth Defendants) No appearance (Seventh Defendant) F Murray-Palmer (Eighth Defendant) S Wang (Ninth Defendant) No appearance (Tenth Defendant)