Application By Benjamin Peter Piggott

FEDERAL MAGISTRATES COURT OF AUSTRALIA

APPLICATION BY BENJAMIN PETER PIGGOTT [2010] FMCA 23

BANKRUPTCY – Extension of time for holding of creditors meeting – power to extend time – exercise of discretion – factors.

Bankruptcy Act 1966, ss.33(1)(c), 194

Application by Benjamin Peter Piggott [2009] FMCA 1061
Application of Malcolm Melvyn Posner [2007] FMCA 610
Council of the New South Wales Bar Association v Eddy (2006) 151 FCR 34; [2006] FCA 254
Hunter Valley Developments Pty Ltd v Cohen (1984) 3 FCR 344
Pretorius v Daltons Carpet Tiles Pty Ltd (1984) 1 FCR 346

Re Gowing; Ex parte Deputy Registrar in Bankruptcy (1985) 11 FCR 111

Applicant: APPLICATION BY BENJAMIN PETER PIGGOTT AS CONTROLLING TRUSTEE OF THE ESTATE OF DAVID JOHN POKE

File Number: PEG 5 of 2010

Judgment of: Lucev FM

Hearing date: 14 January 2010

Date of Last Submission: 14 January 2010

Delivered at: Perth

Delivered on: 14 January 2010

REPRESENTATION

Counsel for the Applicant: Mr P D'Angelo

Solicitors for the Applicant: D'Angelo Legal

ORDERS

1. This application be made returnable instanter.

2. The time for holding of the Meeting of Creditors pursuant to Section 194 of the Bankruptcy Act 1966 (Cth) be extended from 27 January 2010 to 17 February 2010.

FEDERAL MAGISTRATES
COURT OF AUSTRALIA AT
PERTH

PEG 5 of 2010

APPLICATION BY BENJAMIN PETER PIGGOTT AS CONTROLLING TRUSTEE OF THE ESTATE OF DAVID JOHN POKE

Applicant

REASONS FOR JUDGMENT

(Edited ex tempore reasons)

1. This is an application under s.33 of the Bankruptcy Act 1966 (Cth)[1] to extend the time set by s.194(1) of the Bankruptcy Act, in which the controlling trustee must call a meeting of creditors. The application seeks to be made returnable instanter and the Court is prepared to deal with it on that basis.

   [1] “Bankruptcy Act”.

2. The controlling trustee has filed an affidavit, sworn on 12 January 2010.[2]

   [2] Affidavit of Benjamin Peter Piggott, sworn 12 January 2010 (“Affidavit”).

3. The Affidavit deposes to the following:

   a)that there was a requirement to hold a meeting of creditors by 27 January 2010 by giving notice by 14 January 2010;[3]

   [3] Affidavit, para.5.

   b)the circumstances of the investigation into the Debtor’s affairs including:

   (i)the debtor’s legal and beneficial ownership of hay stock and cattle situated at some eleven various leasehold farming properties in Western Australia;

   (ii)the debtor’s disposal of and/or dealings with cattle the subject of separate Bills of Sale with Landmark Operations Limited and Landmark Financial Services Limited;

   (iii)the veracity of creditors’ claims against the Debtor or alternatively hay or cattle of the Debtor which were purportedly sold by the debtor to the creditors concerned pursuant to various arrangements, some of which still remain in the possession of the debtor;

   (iv)the debtor’s conduct generally, in particular his dealings with customer prepayment funds (for hay and cattle agistment) as well as cattle subject to Bills of Sale; and

   (v)whether the debtor’s proposed Personal Insolvency Agreement (or variation thereof) is in creditors’ interests as compared against bankruptcy or ending the controlling trustee’s…