NM Superannuation Pty Ltd v Young

113 ALR 39
41 FCR 182

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Between: NM Superannuation Pty Ltd
And: Young

Court:

Judges: Burchett J
Hill J
O'Loughlin J

Subject References:
Bankruptcy
Life Insurance
Statutory Interpretation

Hearing date: 10 November 1992, 11 November 1992
Judgment date: 12 March 1993

Adelaide

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ORDER

1.  The appeal be allowed.

2.  The orders made at first instance be set aside, and in lieu thereof:

a.

It be declared that the sum of $187,566.79 referred to in the proceedings is not property which vested in the applicant pursuant to s. 58 of the Bankruptcy Act 1966, and is not property which is divisible amongst the creditors of the bankrupt pursuant to s. 116 of that Act.

b.

It be ordered that the applicant pay the costs of the respondent to the application and the costs (if any) of the bankrupt.

3.  The first respondent to the appeal pay the appellant's costs of the appeal.

4.  There be no order as to the costs of the bankrupt of the appeal.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.