Federal Court of Australia
ivy
w
IN THE COURT OF INSOLVENCY OF THE } STATE OF SOUTH AUSTRALIA, ADELAIDE. EXERCISING FEDERAL JURISDICTION IN
BANKRUPTCY. No. 13 of 1979
BANKRUPTCY DISTRICT OF THE STATE OF 5 SOUTH AUSTRALIA.
Re: JOHN LADYMAN a debtor
APPLICATION FOR EXAMINATION OF TRUSTEE
JUDGMENT.
WEDNESDAY, 23RD DECEMBER, 1981
Part X
JUDGE ROGERSON
This is an application by the Registrar for the examination of a trustee pursuant to Section 179 (3) of the Bankruptcy Act, 1966. On 1st June, 1979, a meeting of the creditors of John Ladyman (hereinafter referred to as "the debtor") accepted a proposal for a Composition put to it by the debtor's solicitor. As recorded in the minutes of that meeting the terms of the Composition which was accepted
by special resolution were as follows:-
""That in pursuance of the provisions of paragraph (c)
of sub-section (1) of Section 204 of the Bankruptcy Act 1966, the joint and several creditors of John Ladyman (hereinafter referred to as "the debtor") do hereby accept a proposal for a Composition in full satisfaction of the debts due to each of them by the
debtor, the said proposal being;
that the joznt and several creditors accept the total
of the monies following that it is to say:-
An amount equal to the net proceeds of the sale of the debtor's interest in the land and fixed improvements located at 6 Alma Road, Fullarton in the State of South Australia being the whole of the land described in Certificate of Title Register Book Volume 1333 Folio 178 which net proceeds shall be the sum ascertained by deducting from the amount for which the property is sold the amounts due by the debtor to the Australian & New Zealand Banking Group Limited and which are secured by mortgages numbered 43263407 and
4326339 together with the selling agent's commission,
22/2.
«./3.
all arrears in rates and taxes as at the date of settle- ment and fees payable in respect of the settlement such amount to be paid to the Trustee hereof on or before the
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate