Hillman v Australian Securities and Investments Commission

The case of Hillman v Australian Securities and Investments Commission involved the applicants, Patricia Mary Hillman and Hillman Property and Investment Co Pty Ltd, seeking to be registered as the proprietors of a property in Queensland. The property had been purchased from the family company in 1984, but the formal transfer was not effected. The family company was subsequently deregistered, and the property vested in the Commonwealth of Australia. The applicants argued that there were no competing interests in the property and that the first applicant should be registered as the proprietor. The legal issues revolved around the effect of the deregistration on the property rights and whether the Commonwealth or ASIC held the property subject to any interests or claims. The court held that the Commonwealth took the property subject to any interests or claims held by the company, and since there were no competing interests, the applicants were entitled to be registered as the proprietors of the property. The Commonwealth was joined as a respondent, and the family company was removed from the freehold land register as the proprietor of the property. The first applicant was registered as the owner of the fee simple interest in the property.