Labocus Precious Metals Pty Ltd v Thomas

[2007] FCA 1154

FEDERAL COURT OF AUSTRALIA

Labocus Precious Metals Pty Ltd v Thomas [2007] FCA 1154

BANKRUPTCY – Application to set aside composition

Bankruptcy Act1966 (Cth) ss 30, 73, 110, 178, 222 and 222C
Trade Practices Act 1974 (Cth) s 52

Ex parte Selby; in the matter of Selby and Norton (1855) 43 ER 1427 cited
Kleinwort Benson Australia Pty Ltd v Crowl (1999) 165 CLR 71 cited
Oates v Commissioner of Taxation (1990) 27 FCR 289 referred to
Pascoe; Re Hudson [2005] FCA 1421referred to
Prentice v Wood (2002) 119 FCR 296referred to
Project Blue Sky v Australian Broadcasting Authority (1998) 194 CLR 355applied
Re Barton (1980) 43 FLR 245 referred to
Re Bendel; Ex parte Bendel v Pattison  (1997) 80 FCR 123discussed
Re Coyle (1993) 42 FCR 72 referred to
Re Edwards (1987) 14 FCR 113 discussed
Re Forbes (1974) 24 FLR 87discussed
Re Gray (1960) 19 ABC 29 referred to
Re Haines (1937) 10 ABC 83 referred to
Re Pepper (1969) 14 FLR 282discussed
Re Prince (1961) 19 ABC 39 referred to
Re Stainton (1887) 19 QBD 182 referred to
Re Tynan; ex parte Tynan (1997) 16 FCR 307 discussed
Theissbacher v MacGregor Garrick & Co [1993] 2 Qd R 223 referred to
Union Club v Battenberg (2006) 66 NSWLR 1 referred to
Van Reesema v Official Trustee (1983) 69 FLR 424referred to
Wenkart v Pantzer [2003] FCA 432 discussed
Worrall v Westpac Banking Corporation (1994) 51 FCR 304referred to

LABOCUS PRECIOUS METALS PTY LIMITED AND MICHAEL LOCH MCGURK v HUGH CHARLES THOMAS, MILTON ALEXANDER NAYLOR, GLEN ELLWYN NAYLOR AND 26 ORLANDO AVENUE PTY LTD
NSD 1125 OF 2007

ALLSOP J
2 AUGUST 2007
SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 1125 OF 2007

BETWEEN:

LABOCUS PRECIOUS METALS PTY LIMITED
First Applicant

MICHAEL LOCH MCGURK
Second Applicant

AND:

HUGH CHARLES THOMAS
First Respondent

MILTON ALEXANDER NAYLOR
Second Respondent

GLEN ELLWYN NAYLOR
Third Respondent

26 ORLANDO AVENUE PTY LTD
Fourth Respondent

JUDGE:	ALLSOP J
DATE OF ORDER:	2 AUGUST 2007
WHERE MADE:	SYDNEY

THE COURT ORDERS THAT:

1.The first respondent bring draft short minutes of order to reflect the reasons given today, having circulated those draft short minutes of order as soon as practicable amongst the parties.

2.The matter be stood over for final orders and any argument as to the form of those final orders to 10:30 am on Monday, 6 August 2007.

Note:   Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 1125 OF 2007

BETWEEN:

LABOCUS PRECIOUS METALS PTY LIMITED
First Applicant

MICHAEL LOCH MCGURK
Second Applicant

AND:

HUGH CHARLES THOMAS
First Respondent

MILTON ALEXANDER NAYLOR
Second Respondent

GLEN ELLWYN NAYLOR
Third Respondent

26 ORLANDO AVENUE PTY LTD
Fourth Respondent

JUDGE:	ALLSOP J
DATE:	2 AUGUST 2007
PLACE:	SYDNEY

REASONS FOR JUDGMENT

1. I have taken the course of giving oral reasons as soon…