Federal Court of Australia
CATCHWORDS
Bankruptcy - Notice of Opposition - Ability of debtor to pay debts as they fall due - Interest as joint tenant in matrimonial home -
Whether such interest a "readily realizable asset".
BANKRUPTCY ACT 1966 s.52(2) (a),
LAW OF PROPERTY ACT (S.A) 1936 ss.69(1), 69(2), 70
RE: MR. N. D'ONOFRIO EX PARTE: ROBERT GEORGE BLYTH the debtor the creditor
Fisher J.
Adelaide
19 September 1983
LN
THE FENERAL COURT OF AUSTRALIA
GENERAL DIVISION
)SOUTH AUSTRALIA TN1atTRICT REGISTRY 9 } ) )
BANKRUPTCY WISTRICYT GF THE STATE OF) }
SOUTH AUSTRALIA ) Ke
BE: Parte
No. 440
ef 1982
MR, NIU' ONOQERIO
the
deblor
: EOLERT GEORGE BLYTH
the creditor
ORDER
JUDGE MAKING GRDERX :
HATE
WHERE MALE
THE COURT ORDERS THAT:
1.
The motice of opposition of Mr. N.
Fisher J.
19 September 1965
Adelaide
Tlvonofria to
the making of
H sequestration order against ois estate 15 dismissed.
Nr. dN. D'onafria as t
the pecitioning creditor, the same
Lo pay the cos
te of Robert
heorgqe Blyth,
10 be banned if mot agreed.
IN THE FEUERAL COURT OF AUSTRALIA SOUTH AUSTRALIA DISLRICLT REGISTRY
) ) ) } GENERAL THIVISLON > No.440 of 1983 ) LANKRUPTCY DISTRICT OF THE STATE oF)
)
)
SOUTH ALSTRALTA
Re : oR.N. L'GNOFRIO tie debtor
Ex Parte IRUKERT GEORGE BLYTH tne creditor
19 September 1983 REASONS FOR JUDGMENT
FISHER J.: In this matter Robert George Blyth ("the petitioning Creditor®) seers a sequestrabion arder against the estate af Mr. N.0/Gnofrie ("the debtor") besed on 3 Judgment debi an the sum of $1,727.30. The debtor oppoetes the making of the order on the ground set out in a notice of opposition, namely that he is ftolivent. The matter has proceeded on the basis that he is contending, 1m the words oF §,55¢2)¢8) of the Bankruptey Act
1946 ("the Act") that he can satisfy me that he 1s able to pay
his debtbs.
In Wis sifidayvit failed ain supporlk of his motice of opposition the debtor stated his assets 4s money im the bank 455.83, a Ford Falcon sedan which he valued at €600 and an interest as joint tenant with his wife in 2 duelling-house. This house was occupred as Lhe matrimonial home by the debtor, his wife and Lwo elependent children. By consent Lie debtor tendered a certificate by a licensed valuer valuing the dwelling-house at $72,500 and andacating that 1t could be sold within 2 period of four weels from instructions. 1b was also established that the house was mortgaged to the Commonwealtn Rant of Gustrsalis to
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