Stacks Managed Investments Limited v State of New South Wales [2016] NSWSC 1349

Supreme Court New South Wales

Medium Neutral Citation: Stacks Managed Investments Limited v State of New South Wales [2016] NSWSC 1349 Hearing dates: 21 September 2016 Date of orders: 21 September 2016 Decision date: 21 September 2016 Jurisdiction: Equity Before: Darke J Decision: Order made under s 568F of Corporations Act 2001 (Cth) vesting disclaimed property in first mortgagee of property. Catchwords: CORPORATIONS – winding up – liquidators – disclaimer of property under s 568 Corporations Act 2001 (Cth) – effect of disclaimer – escheat to the Crown – whether disclaimed property should vest in registered first mortgagee Legislation Cited: Bankruptcy Act 1966 (Cth), ss 60, 133(9) Conveyancing Act 1919 (NSW), s 92 Corporations Act 2001 (Cth), ss 568, 568A, 568D, 568F Cases Cited: Australia and New Zealand Banking Group Ltd v Fairfield City Council [2016] NSWSC 668 Muir v Mid Murray Fire Protection Pty Ltd [2014] VSC 547 National Australia Bank Ltd v New South Wales [2009] FCA 1066 Re Middle Harbour Investments Ltd [1977] 2 NSWLR 652 Re Tulloch Ltd (1978) 8 ACLR 808 Sandhurst Trustees Ltd v 72 Seventh Street Nominees Pty Ltd (1998) 45 NSWLR 556 Category: Principal judgment Parties: Stacks Managed Investments Limited (Plaintiff) State of New South Wales (First Defendant) Glenn Preece (Second Defendant) Representation: Counsel: Mr M W Young SC (Plaintiff) Mr G Preece in person (Second Defendant)