Bankruptcy

NAB v Darroch [2010] NSWSC 1129

This case demonstrates how long possession proceedings can drag out when indulged the Court is overly compassionate: 20 August 2008 the lender obtained default judgment 30 October 2008 the borrower obtained stay of the writ of possession 20 November 2008 the stay was extended 4 December 2008 the stay was extended 11 December 2008 the stay was extended 19 …

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Permanent Custodians v Tony Geagea [2010] NSWSC 117

In this case the borrowers were three brothers who mortgaged their jointly-owned property. Two of the brothers alleged that the third brother (who is bankrupt) forged their signature. One of them had a very convincing alibi. He pointed out that at the time the document was executed he was in custody in Lebanon in respect …

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NAB v State of New South Wales [2009] FCA 1066

In this case the borrowers went bankrupt and the trustee in bankruptcy executed a disclaimer of the bankrupts’ property in their land pursuant to s 133 of the Bankruptcy Act. The Registrar-General considered that the land escheated to the Crown and recorded the State of New South Wales as proprietor in borrower’s place. The question …

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Sanwick v Bankrupt Estate of Peter Robert Finn [2009] NSWSC 86

Section 120(1) of the Bankruptcy Act provides:  A transfer of property by a person who later becomes a bankrupt to another person is void against the trustee in bankruptcy if: the transfer took place in the period beginning 5 years before the commencement of the bankruptcy; and  the transferee gave consideration of less value than …

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Perpetual Trustee Company v Kinsella [2006] NSWSC 1005

In this case, the lender sought possession. The bankrupt borrower claimed the lender’s solicitor had told him a lesser sum would be accepted in full and final satisfaction of the debt.  Normally a bankrupt would not be allowed to mount a defence. However the judge gave permission because there seemed to be a conflict in …

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