St. George Bank Limited v Young
[2006] FMCA 1780
•24 November 2006
FEDERAL MAGISTRATES COURT OF AUSTRALIA
| ST. GEORGE BANK LIMITED v YOUNG | [2006] FMCA 1780 |
| BANKRUPTCY – Annulment − where the bankrupt was placed in funds to pay his unsecured creditors and the Trustee − where no objection to the annulment − whether bankruptcy should be annulled. |
| Bankruptcy Act 1966, s.153B |
| Applicant: | ST. GEORGE BANK LIMITED |
| Respondent: | BRUCE DONALD YOUNG |
| File Number: | SYG 1429 of 2006 |
| Judgment of: | Raphael FM |
| Hearing date: | 24 November 2006 |
| Date of Last Submission: | 24 November 2006 |
| Delivered at: | Sydney |
| Delivered on: | 24 November 2006 |
REPRESENTATION
| Counsel for the Applicant: | Mr M. Pike |
| Solicitors for the Applicant: | Kemp Strang |
| Counsel for the Respondent: | Mr J. Chippindall |
| Solicitors for the Respondent: | John McEnroe & Company |
| Solicitors for the Trustee: | Turks Legal |
| Solicitors for the Permanent Trustee: | Gadens Lawyers |
ORDERS
The bankruptcy of Bruce Donald Young be annulled pursuant to s.153B Bankruptcy Act 1966.
The hearing fixed for 28 November 2006 be vacated.
| FEDERAL MAGISTRATES COURT OF AUSTRALIA AT SYDNEY |
SYG 1429 of 2006
| ST. GEORGE BANK LIMITED |
Applicant
And
| BRUCE DONALD YOUNG |
Respondent
REASONS FOR JUDGMENT
In this matter a sequestration order was made against the bankrupt on 29 June 2006 by Registrar Segal. On 27 July 2006, an application was made to this court to review the decision of the Registrar or alternatively to annul the bankruptcy pursuant to s.153B of the Bankruptcy Act 1966 (the “Act”). After some consideration it was felt by the bankrupt that the application to review was probably inappropriate and so on 27 October 2006, pursuant to orders of mine on 24 October 2006, an amended application was filed seeking an annulment.
Since that time the bankrupt has endeavoured and finally succeeded in being placed in funds for the payment out of all his unsecured creditors made known to the Trustee and the Trustee’s fees and costs of administering his estate and in relation to these proceedings. The Trustee has also filed two reports with this court as required by the Federal Magistrates Court (Bankruptcy) Rules 2006.
I am satisfied from the evidence which has been provided to me that all known creditors identified by the bankrupt have been provided with notice of this application. I am satisfied by counsel for the Trustee that sufficient cleared funds have been placed with him in order to effect the payments to those creditors and to his client, and I am advised by the solicitor for the petitioning creditor and a solicitor for a secured creditor that they have no objection to the bankruptcy being annulled.
There are no other appearances, notwithstanding the notice was delivered to all interested parties, and in those circumstances I propose to order that the bankruptcy of Bruce Donald Young be annulled pursuant to the provisions of s.153B of the Bankruptcy Act 1966. To the extent necessary I vacate the hearing that I had fixed for 28 November 2006.
I certify that the preceding four (4) paragraphs are a true copy of the reasons for judgment of Raphael FM
Associate:
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