Re Woodward , J.R.

[1987] FCA 328

NOT CONSIDERED SUITABLE FOR DISTRIBUTION

I N THE FEDERAL COURT OF AUSTRALIA )

GENERAL DIVISION	)	i.:
> .

BANKRUPTCY DISTRICT OF THE STATE OF ) NO. W.233 Of 1 9 8 6

NEW SOUTH WALES AND THE AUSTRALIAN 1 ::

CAPITAL TERRITORY 1

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BURCHETT	J .
Well, I am s a t i s f l e d , t h e n , ~n t h l s matter. I d o n o t
t h i n k It	1s necessary t o r e c i t e t h e d e t a i l s w h i c h are set o u t i n

l: .

t h e a f f i d a v l t s a n d I n Mr. B l u e t t ' s report .

i '. r

I t h a s b e e n s u b m i t t e d t h a t t h e case 1s q u i t e s imilar , i n

Its c l r c u m s t a n c e s , t o R e G i a n a c a s ; Ex par te T h e O f f i c i a l R e c e i v e r

( 1 9 8 3 ) 4 8 A.L.R. 537. I t h i n k t h e r e is c o n s l d e r a b l e s lml l a r i t y .

N o case, o f c o u r s e , 1s a p r e c e d e n t f o r a n o t h e r case a s t o f a c t u a l

mat ters . B u t I am c o n t e n t r e s p e c t f u l l y t o f o l l o w t h e p r i n c i p l e s

t h a t were s t a t e d I n t h a t case.

I h a v e h e a r d some b r l e f e v l d e n c e f r o m t h e a p p l i c a n t , t h e

b a n k r u p t . No c r e d i t o r h a s a p p e a r e d t o o p p o s e h i s a p p l i c a t i o n ,

a n d t h e O f f l c i a l R e c e l v e r h a s d r a w n my a t t e n t i o n t o aspects o f

t h e case, b u t h a s n o t r e p o r t e d a n y matter u n d e r s u b s e c t l o n ( 6 ) o f

s e c t i o n 1 5 0 .

2.

I think It is clear - and the bankrupt does not dispute it - that he did allow hlmself to get into a situatlon where hls resources were over-stretched, and where there was an unacceptable element of rlsk In the transactions In which he was involved. He was, of course, a young man at the time, and he has

lost significantly as a result. I think I should act on the

basls that he will not, in future, overlook the lesson he has

been so forcibly taught. He has qualiflcations, and it is open to him to resume the practice of his profession as from 30 June of this year. In all the circumstances, I think I should make

orders that wlll facilltate that.

There appears to be nothing outstanding in the

administratlon of the estate which would provlde any reason for

doing otherwise. The only consideratlons seem to me to be

considerations of what is the approprlate xercise of a

dlscretlon which 1s there, partly, to ensure the protection of

the commercial community. I do not think that those considerations require that the debtor should remain a bankrupt for a significantly longer period. There is the matter of an amount of $1536.40 requlred to meet outstanding fees and casts of

the administration of the estate, and the applicant has Indicated

that he 1s prepared to see this amount pald prlor to 30 June.

I think It 1s appropriate that I should grant a

dlscharge, but pursuant to section 150(9)(c), that I should

suspend the operation of the order of dlscharge so that, provided

the amount whlch I have mentioned is paid to the Official

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Receiver prlor to 30 June, the suspension shall come to an end on

3 0 June, and the order of discharge then come into effect.

Otherwise, the dlscharge should be suspended for a perlod of SIX months from today's date. I so order.

I certify that this and the

preceding two (2) pages are a

true copy of the Reasons for

Judgment hereln of hls Honour

Mr. Justice Burchett.

Associate

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Dated: 4 May 1987.

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