Wallace, John Vincent v Trade Credits Ltd [1983] FCA 315

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CATCHWORDS

BANKRUPTCY - judgment for debt against guarantors -

judgment for possession of land of two guarantors - bankruptcy notice issued against one other guarantor - whether judgment against the one other guarantor stayed

by execution of judgment for possession against two guarantors - whether bankruptcy notice should issue against a judgment debtor where there has been execution against

other judgment debtors.

Bankruptcy Act 1966 s.40(1) (g), s-41(3) (b)

JOHN VINCENT WALLACE v. TRADE CREDITS LIMITED

Coram: Bowen C.J., McGregor and Neaves JJ.

1 November 1983

Sydney

IN THE FEDERAL COURT OF AUSTRALIA) ) NEW SOUTH WALES: DISTRICT REGISTRY) No. G92 of 1983 )

GENERAL DIVISION )

BETWEEN: JOHN VINCENT WALLACE Appellant AND: TRADE CREDITS LIMITED Respondent ~ CORAM: Bowen C.J., McGregor, Neaves JJ. DATE : 1 November 1983 ORDERS

1. The appeal is dismissed.

2. The appellant is to pay the respondent's costs.

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IN THE FEDERAL COURT OF AUSTRALIA

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NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION BETWEEN :

JOHN VINCENT WALLACE

Appellant AND:

TRADE CREDITS LIMITED

REASONS FOR JUDGMENT

Coram: Bowen C.d., McGregor, Neaves JJ.

Date: 1 November 1982

This 15 an appeal by JOHN VINCENT WALLACE 'appellant)

against an order made on 8 April 1983 by a judge of this court wherein he refused to set aside or stav the operation of a Bankruptcy Notice dated 24 August 198% assued by the Deputv Reqistrar on the application of TRADE CREDITS LIMITED, judament ereditor (respondent) following entering of judqment ain the Supreme Court of New South Wales against the appellant and others on 16 Julv 1982. The Bankruptcy Notice was 1ssued in reliance on 5.41 of the Bankruptcy Act 1966 'the Act) and asserted that

execution on the tudament had not been staved.

In appears from the evidence that voursuant to a lcan