FEDERAL COURT OF AUSTRALIA
Murakami, in the matter of Murakami [2011] FCA 844
Citation: Murakami, in the matter of Murakami [2011] FCA 844 Parties: HIROSHI MURAKAMI File number: QUD 68 of 2011 Judge: DOWSETT J Date of judgment: 22 July 2011 Date of hearing: 22 July 2011 Place: Brisbane Division: GENERAL DIVISION Category: No catchwords Number of paragraphs: 3 Counsel for the Applicant: Mr DJ Topp Solicitor for the Applicant: Fitz-Walter Lawyers
IN THE FEDERAL COURT OF AUSTRALIA
QUEENSLAND DISTRICT REGISTRY
GENERAL DIVISION
QUD 68 of 2011
HIROSHI MURAKAMI
Applicant
JUDGE:
DOWSETT J
DATE:
22 JULY 2011
PLACE:
BRISBANE
REASONS FOR JUDGMENT
On a previous occasion, I concluded that the bankruptcy proceedings commenced in Japan in this matter should be recognised, subject only to ensuring that appropriate notice had been given to creditors. The evidence discloses that the applicant, who is the trustee in Japan, is aware of certain Australian creditors and has communicated with them. He has subsequently advertised appropriately. In those circumstances, I am satisfied to make an order recognising the relevant proceedings pursuant to the Cross-Border Insolvency Act 2008 (Cth) and the Model Law on Cross-Border Insolvency.
A question then arises as to how the trustee should deal with the property. It seems to me to be appropriate that he be entrusted, pursuant to Art 21, with the distribution of the relevant debtor’s assets and estate, namely, the property described as Lot 99 on BUP 106856 in the county of Ward, Parish of Gilston. He proposes to seek transmission pursuant to s 115 of the Land Title Act 1994 (Qld). This seems appropriate. I am satisfied that the interests of creditors of the estate, within Australia are adequately protected, and that the relevant asset should be administered in the Japanese bankruptcy proceedings.
I shall order accordingly.
I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Dowsett. Associate:
Dated: 7 September 2011
- AGLC
- Murakami, in the matter of Murakami [2011] FCA 844
- Case
- [2011] FCA 844
- Decision Date
CaseChat Overview and Summary
Justice Dowsett considered the evidence provided by the applicant, who had communicated with Australian creditors and advertised the proceedings as required by law. The court was satisfied that the appropriate notice had been given to creditors and that their interests were adequately protected. Justice Dowsett concluded that the relevant property should be administered in the Japanese bankruptcy proceedings, in line with the provisions of the Cross-Border Insolvency Act 2008 and the Model Law on Cross-Border Insolvency. The court found it appropriate for the trustee to seek transmission of the property pursuant to section 115 of the Land Title Act 1994.
Following the reasoning and evidence presented, Justice Dowsett ordered the recognition of the Japanese bankruptcy proceedings in Australia and authorised the trustee to distribute the debtor's Australian assets as part of the proceedings. The court's decision was based on the satisfactory protection of Australian creditors and the appropriateness of managing the debtor's Australian property within the Japanese proceedings. The orders made by the court effectively recognised the Japanese bankruptcy proceedings and allowed for the administration of the Australian assets in accordance with the relevant laws and agreements.
Orders
Orders of the court
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Background
Background to the litigation
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Evidence
Evidence Before The Court
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Decision
Reasons for decision
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Ratio Decidendi
Legal Principle Established
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