Re Fitzgibbon, B.K. Ex Parte Fitzgibbon, B.P

IN THE FEDERAL COURT OF AUSTRALIA

GENERAL DIVISION
BANKRUPTCY DISTRICT

OF THE STATE OF OUEENSLAND

No. 1811 of 1992

RE: BRIAN KEVIN FITZGIBBON

EX PARTE: BRIAN PATRICK FITZGIBBON

Debtor

MINUTES OF ORDER

JODGE MAKING ORDER: Cooper J
DATE OF ORDER: 24 April, 1992
WHERE W E : Brisbane
THE COURT ORDERS THAT:

That Brian Kevin Fitzgibbon be discharged from bankruptcy.

Note: Settlement and entry of orders is dealt with in Rule
124 of the Bankruptcy Rules.

AUSTRALIA

7 MAY 1992

FEDERAL COURT OF

IN THE FEDERAL COURT OF AUSTRALIA
GENERAL DIVISION
BANKRUPTCY DISTRICT

OF THE STATE OF OUEENSLAND

No. 1811 of 1992

RE: BRIAN KEVIN FITZGIBBON

EX PARTE: BRIAN PATRICK FITZGIBBON

Debtor

CORAM : Cooper J
DATE : 24 April, 1992
PLACE : Brisbane

EX TEMPORE REASONS FOR JUDGMENT

This is an application by Brian Kevin Fitzgibbon pursuant to section 150 of the Bankru~tcv Act 1966 as amended for discharge from his bankruptcy. The applicant was made bankrupt on 15 August 1991 on the petition of the Bank of New Zealand. In his affidavit, the applicant sets out the circumstances surrounding his bankruptcy.

Briefly, they are that he became involved in a gave personal guarantees and secured his assets for the

series of business ventures involving companies wherein he

benefit of those ventures. The ventures failed and the securities and his guarantee were called up. In the circumstances, he was unable to meet the liabilities which he had undertaken by way of surety.

Notice has been given to the creditors of his estate. No creditor appears to oppose and no notice of intention to oppose the application has been made. The court has before it a report from Mr Worrell, the Trustee of the estate. The Trustee does not oppose the making of the order sought nor does the report disclose any adverse circumstance which would influence the court to refuse the application.

The applicant is an accountant by profession and a tax agent. He has in the past conducted a business of tax agent and accountant. At the present time he desires to re- establish himself in that area but cannot do so having regard to his status of bankrupt.

In all the circumstances I am satisfied that there are cogent reasons why a discharge should be granted at this point in time.

Accordingly, I order that Brian Kevin Fitzgibbon be

discharged from bankruptcy.

preceding page is a true copy of the I certify that this and the one (1)
reasons for judgment herein of the
Honourable Mr. Justice Cooper.
Associate

CaseChat Overview and Summary

In the Federal Court of Australia, General Division, Bankruptcy District of the State of Queensland, the case of Re Fitzgibbon, B.K. Ex Parte Fitzgibbon, B.P. was heard by Cooper J. The case involves an application by Brian Kevin Fitzgibbon for discharge from his bankruptcy status. Fitzgibbon was declared bankrupt on 15 August 1991 by the Bank of New Zealand. The application for discharge is pursuant to section 150 of the Bankruptcy Act 1966, as amended. The court had to determine whether there were sufficient grounds to grant a discharge from bankruptcy.

The primary legal issue before the court was whether the applicant, Brian Kevin Fitzgibbon, had demonstrated sufficient grounds for being discharged from his bankruptcy. The applicant, an accountant and tax agent, had provided personal guarantees and secured his assets for various business ventures, which ultimately failed. He was unable to meet the liabilities he had undertaken as a surety. The court had to consider the circumstances of the bankruptcy, the applicant’s profession and intentions to re-establish himself in his field, and the absence of opposition from creditors. The Trustee of the estate also submitted a report which did not oppose the application and did not reveal any adverse circumstances.

Cooper J considered the circumstances of the bankruptcy and the applicant's status as an accountant and tax agent. The court noted that the applicant wished to re-establish his professional practice but was unable to do so due to his bankruptcy status. Given the absence of opposition from creditors and the Trustee's report, the court found that there were cogent reasons to grant a discharge. Accordingly, Cooper J ordered that Brian Kevin Fitzgibbon be discharged from bankruptcy.

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established

JODGE MAKING ORDER:	Cooper J
DATE OF ORDER:	24 April, 1992
WHERE W E :	Brisbane
THE COURT ORDERS THAT:

Note:	Settlement and entry of orders is dealt with in Rule
124 of the Bankruptcy Rules.

Briefly, they are that he became involved in a gave personal guarantees and secured his assets for the	series of business ventures involving companies wherein he
benefit of those ventures. The ventures failed and the securities and his guarantee were called up. In the circumstances, he was unable to meet the liabilities which he had undertaken by way of surety.
Notice has been given to the creditors of his estate. No creditor appears to oppose and no notice of intention to oppose the application has been made. The court has before it a report from Mr Worrell, the Trustee of the estate. The Trustee does not oppose the making of the order sought nor does the report disclose any adverse circumstance which would influence the court to refuse the application.
The applicant is an accountant by profession and a tax agent. He has in the past conducted a business of tax agent and accountant. At the present time he desires to re- establish himself in that area but cannot do so having regard to his status of bankrupt.
In all the circumstances I am satisfied that there are cogent reasons why a discharge should be granted at this point in time.

preceding page is a true copy of the	I certify that this and the one (1)
reasons for judgment herein of the Honourable Mr. Justice Cooper.