Spratt, Re T.J. Wilde, Ex Parte W.J. & Ors [1986] FCA 33

CATCHWORODS

BANKRUPTCY - claims by and against bankrupt - action in Supreme

Court continued without leave - resultant compromise - whether compromise void - whether trustee deemed to have abandoned

counterclaim - necessity for permission or leave under s.135(1)(a) to sell property - how value of shares to be assessed for purposes of that par. - whether "compromise" falling within $.135(1)(£) or (g) - whether trustee party to compromise - whether claim and counterclaim (both to be abandoned) set off against one another for purposes of s.135(1)(f) and (g).

Bankruptcy Act, 1966 ss.58(3); 60; 135(1); 135(4)

RE: TIMOTHY JOHN SPRATT EX P: WILSON JOSEPH WILDE AND ERNEST GEORGE HARRIS & ORS QLD £207 of 1983

PINCUS J. BRISBANE 19 February 1986

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IN THE FEDERAL COURT OF AUSTRALIA ) GENERAL DIVISION ) QLD E207 of 1983

BANKRUPTCY DISTRICT OF THE SOUTHERN ) DISTRICT OF THE STATE OF QUEENSLAND }

RE: TIMOTHY JOHN SPRATT A Bankrupt

EX PARTE: WILSON JOSEPH WILDE and ERNEST GEORGE HARRIS & ORS

Trustees/Applicants AND: JANELLE KAYE SPRATT

First Respondent AND: P. & S. DECO QUARRIES PTY. LTD.

Second Respondent

AND: ROBERT WILLIAM PEACH

Third Respondent AND: JOHN ROBERT REES

Fourth Respondent

MINUTES OF ORDER

JUDGE MAKING ORDER: PINCUS J. DATE OF ORDER: 19 February, 1986 WHERE MADE: BRISBANE

THE COURT ORDERS THAT:

1. It be declared that on or about 28 February, 1985 the fourth respondent made a compromise within the meaning of s.135(1)(f) of the Bankruptcy Act and made a compromise within the meaning of $.135(1)(g)

of the Bankruptcy Act in respect of action no. 2508 of 1981 pending in the Supreme Court of Queensland.

2. The costs of and incidental to the application to date be reserved.

3. The matter be adjourned for further hearing toa date to be fixed by the Registrar.

NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.