Mangano v Bullen

The case of *Mangano v Bullen* concerned a dispute over title to property. The appellant, Mr Mangano, sought to set aside a transfer of property to the respondent, Mr Bullen, alleging the transfer was procured by fraud. The central issue arose from the deregistration of a company under the *Companies (New South Wales) Code* 1981, and whether the property of that deregistered company had vested in the Australian Securities and Investments Commission (ASIC).

The Court of Appeal of New South Wales was required to determine two primary legal issues. Firstly, whether the title to the property had been acquired by fraud. Secondly, the court had to consider the operation of the *Limitation Act 1969* (NSW), specifically whether any right to set aside the transfer was statute-barred by virtue of sections 27 or 51 of that Act.

The court reasoned that the deeming provisions within section 459(6) of the *Companies Code* were critical to the determination of property vesting upon deregistration. It was held that the effect of these provisions was that the property of the deregistered company did not automatically vest in ASIC. Furthermore, the court found that the appellant's claim to set aside the transfer was indeed statute-barred under the *Limitation Act 1969* (NSW).

Consequently, the appeal was dismissed with costs.