Re Kefalas, George Ex parte Hatziplis Investments Pty Ltd [1981] FCA 4

IN THE FEDERAL COURT OF AUSTRALIA

BANKRUPTCY DISTRICT OF THE STATE

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)

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) No. B5267 of 1980 OF NEW SOUTH WALES AND THE ) ) )

AUSTRALIAN CAPITAL TERRITORY

RE: GEORGE KEFALAS

EX PARTE:HATZIPLIS INVESTMENTS PTY. LIMITED

ORDERS JUDGE MAKING ORDERS: LOCKHART J. WHERE MADE: AT SYDNEY DATE OF ORDERS: FRIDAY 6 FEBRUARY 1981

THE COURT ORDERS THAT: .

1. The application be dismissed.

2. The ordex previously made by the court extending time for

compliance with the requirements of bankruptcy

notice B 5267 of 1980 until further order be terminated.

3. Time for compliance with the requirements of the said bankruptcy notice be extended up to and ancluding 13

February 1981.

4. The applicant pay the respondent's costs of this application

including reserved costs.

CATCHWORDS

Bankruptcy - bankruptcy notice - whether sum specified - in bankruptcy notice exceeds amount due - whether payment by one joint debtor reduces amount due by other joint debtors - whether such payment can be identified with original joint debt - discussion on joint liability of

co-guarantors.

Bankruptcy Act 1966 (Cth.) s. 41 (5).

GZORGE KEFALAS Ex parte; HATZIPLIS INVESTMENTS PTY. LIMITED NO. B5267 OF 1980

LOKCHART J.

AT SYDNEY

FRIDAY 6 FEBRUARY 1981

as the amount due under a judgment signed by the respondent against the applicant in the Supreme Court of New South Wales on 18 November 1974 together with interest thereon in the sum of $7,482.35 making a total of $20,450.35.

The judgment debt arose out of the liability of the appellant to the respondent pursuant to a guarantee. By memorandum of lease, which is undated but appears to have been executed in August 1973, the respondent leased to Pan Hellenic Sporting Club Limited premises in Parramatta Road, Leichhardt for a term of five years commencing on 1 September 1973 ata yearly rent of $17,160.00 payable by equal monthly instalments. The applicant, George Galanopoulos ("Galanopoulos") and Michael