Secure Funding Pty Ltd v Grummett and Another

80 VR 200·Cosgrave J

80 VR 200

SECURE FUNDING PTY LTD v GRUMMETT and Another Supreme Court of Victoria Cosgrave J 18–20 November, 10 December 2025, 22 April 2026 [2026] VSC 225 Bankruptcy — Standing — Discharged bankrupt bringing proceedings — Cause of action a chose in action vested in trustee in bankruptcy — No assignment of chose in action or consent from trustee in bankruptcy to bringing of action — Whether automatic revesting of cause of action in discharged bankrupt — Bankruptcy Act 1966 (Cth), ss 58, 60, 116.

Section 58 of the Bankruptcy Act 1966 (Cth) relevantly provided that upon bankruptcy the property of a bankrupt, except after-acquired property, became vested in a registered trustee. Any such after-acquired property became vested in that trustee at such time as it was acquired by the bankrupt. Section 116(1) provided, in either case, that such property was divisible among the creditors of the bankrupt. Section 116(2) excepted certain property, including, relevantly:

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