Re Leiser, Ivor

[1983] FCA 288

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RE: LEISER IVOR

ORDER

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Judge makincr order:	Beaumont , J.
Date of order:	2 0 September, 1983.

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where made : Sydney .

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THE COURT ORDERS:

1.	I order	that	the	application	€or	dlschargc	be
refused.

2. I make no order as to costs.

IN THE FEDEML COURT O F AUSTRALIA	1
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GENERAL DIVISION	)
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BANKRUPTCY DISTRICT	TEE STATE OF	) 1
NEW SOUTR WALES &VD	THE AUSTRALTAN	) )

TERRITORY CAPITAL 1 No.VJ655 of 1981

RE : IVOR LEISER

corn<:	Beaumont, J.
DATED :	20 September, 1983.

(ex tempore)

WASONS FOR JUDGMENT

In this matter I have already lndicated tinat I

propose to refuse the applicatlon. I wlll now give reasons

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This is an appllcation for discharge from bankruptcy. I

The facts are that the bankrupt	was made bankrupt	by a	i
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sequestration order dated 27 July, 1981. No assets were

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brought to the credlt of the estate and the bankrupt has made

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no contributions	on that account.	t
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A number of creditors,	some external,	but in one case	l
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the former wife	of the bankrupt,	have proved ln	estate.	the	In	t
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round flgures the amounts of the	debts in which	proof has been	1 I
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made exceed some $65,000 of whlch some $16,000 conslsts of

a debt owed to the former wife of the bankrupt pursuant to a deed of settlcment executed when their marrlage broke up.

Orlglnally some $29,000 \cas owed by the bankrupt to h l s wlfe

on that account, but various payments were made In r ductlon

and the debc now stands In the sum of approximately $16,000

whlch was the sublect	of a -judgment obtained in the	Dlstrlcc
Court .

In paragraphs 8 and 9 of the report of the Official

Receiver dated 30 August, 1983 there 1s set out in a form

whlch 1 would adopt for this purpose mformation as to the

bankrupt's present financial and personal positlon. There 1s

also in that part of the report some expllcatlon of the way in

which the bankrupt became financially embarrassed, principally

by reason of his actlvities as a dlrector and shareholder of a

private company, Rosewear Pty. Limited. I will not repeat

that material here but would seek,	as it were,	to incorporate
it by reference.

The bankrupt has sworn an affidavlt today which has

been read in the appllcation m whlch he indlcates his current

posltion. He says that he 1s presefltly reslding wlth hls wife,

Ruth Leiser, but that he has suffered some health problems to

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the extent that he is receiving medical treatment for ulcers. I

In paragraph 8 of that affldavit he says that, If he 1 s now

discharged, it is not hls intention to enter into any buslness

on his own behalf, rather It is more hls wlsh to continue as !

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he 1s at present but without thc stlgma of bankruptcy. He refers

to the clrcumstance that he has four chlldren aged 23 years,

25 years and twlns, 28 years o€ age and some grandchlldren.

Reference was also made durlng the course of the hearing to the

circumstance that one of his chlldren is to be marrled shortly

and the bankrupt wishes, perhaps understandably, in hls later

years to be free fron the stigma that is attached through

bankruptcy.

In my oplnion this appllcatlon is premature. There

are, in my view, no speclal circumstances whlch would suggest

that the statutory period of three years should not run its

full course in the present case.

I may say that If there had been no external creditors

or if soine assets had been brought ln for the beneflt of

credltors or If some contrlbutlons had been made, however modest,

my attltude may well have been dlfferent but as matters stand

there are no assets, there are no contrlbutlons, there are

significant external credltors, and the application is made

barely two years after the date of the sequestration order.

In those circumstances I propose to refuse th appllc-

ation and the orders I make are as follows:

1. I refuse the applicatlon for discharge.

2. I make no order as to costs.

3 . I order that the exhibits may be handed out.

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I certlfy that i-lmzsd t h e ?l preceding

pages are a true copy of t h e reasons for

judgment herein of The Honourable

M r Justice Eeaumont. S w y

Associale

Dated 17 cf+m I5S3

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