Hayes, Lois Patsy v Worrell, Ivor as trustee of Lois Patsy Hayes

[1993] FCA 525

5    , 93

JUDGMENT HQ. 0@100000000000130C 500000000.1.

IN THE FEDERAL COURT
O F AUSTRALIA
GENERAL DIVISION
BANKRUPTCY DISTRlCr OF THE

STATE O F OUEENSLAND

RE:  LOIS PATSY HAYES

Bankrupt

EX PARTE:	I WORRELL AS TRUSTEE OF LOIS
CORAM:

DATE:	28 JUIY, 1993	-6	AUG 1993	H
PLACE:	Brisbane
REASONS FOR JUDGMENT

This is an appl~catlon for a declaration that a dlamond ring tendered on

the public examination of the bankrupt Lois Patsy Hayes is property of the bankrupt which vested in Ivor Worrell as trustee in bankruptcy pursuant to sectlon 58 of the Bankruptcv Act and for an order for delivery of the sald ring to the trustee.

sons to replace an engagement ring which had lost the gem. The purchase prlce of	the ring was $2,000 00. The ring falls within the definition of property and property of
the bankrupt wrthin the meaning of those terms as defined in sectron 5 of the Act. The ring is not an exempted category of property in section 116(2) of the Act. It is
not in my view necessary wearing apparel within section 116(2)(b).

The bankrupt did not attend on the application. However an alfidavit

from her and submissions from Messrs. Wllson Rynn ant1 Grosc were sent to the

court and I have had regard to them.

Mrs. Hayes states that the ring was given to her in June, 1992 by her

Having regard to the creditors of the estate I doubt that realization of

the value of the rrng will contribute greatly to the estate. Nevertheless the trustee is w~thin his rights to bring the application to obtain an order for delivery as part of his administration of the estate, notwithstanding that the bankrupt has an emotional attachment to the ring.

I would expect that the trustee would offer the ring for sale first to the

bankrupt or her tamily at the market value achieveable by the trustee on the sale of a

second hand ring to a private purchaser or the jewellery trade.

I make the declaration sought in paragraph 1 of the application.

I direct the district registrar of the court to deliver the said ring to the

applicant trustee.

I ORDER that the costs of the applicatiori be costs in the bankruptcy.

I certifi that this and the preceding page are a true copy of the reasons for judgment herein of his Honour Mr. Justice Choper.

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Date:  28 July, 1993 .! l i c ; ! , , . , ~ 111 i , 1 1 ' ( , ? ! L ,

Associate