Federal Court of Australia
Bankruptcy - exercise of
ON
NOT FOR GENERAL DISTRIBULION
CATCHWORDS
Application for discharge ~- Principles governing discretion
Bankruptcy Act 1966 (Cth), s.150
Re:
Ex Parte:
No. W 639 of
Neaves J.
VICTOR WILLIAM DURIE, A BANKRUPT VICTOR WILLIAM DURIE
22 April 1986
Sydney
IN THE FEDERAL COURT OF AUSTRALIA
GENERAL DIVISION No. W 639 of 1984
BANKRUPTCY DISTRICT OF THE STATE OF NEW SOUTH WALES AND THE AUSTRALIAN CAPITAL TERRITORY
ee ee
Re: VICTOR WILLIAM DURIE A Bankrupt Ex parte: VICTOR WILLIAM DURIE
CORAM: Neaves J. DATE: 22 April 1986
REASONS FOR JUDGMENT
This is an application by Victor William Durie ("the
bankrupt") pursuant to s.150 of the Bankruptcy Act 1966 (Cth)
("the Act") for an order of discharge from bankruptcy.
On 9 July 1984, on the petition of Sterland Bros. Pty. Limited, a sequestration order was made against the estates of
the bankrupt, Laurence Walter Dummett and Clifford William Glew
as joint debtors. Mr Maxwell William Prentice, a registered
trustee, is the trustee of their estates.
It appears that in 1978 the bankrupt conducted a plumbing business in partnership with Mr L.W. Dummett. In March
1980, a company, Durie and Dummett Plumbing Services Pty.
Limited, was incorporated and took over the business. In
Fyn pe men meee gcages er ero cerry ts
October 1980, the name of the company was changed to Spanish and Colonial Homes Pty. Limited and the company commenced the
business of a project home builder in the Gosford and Central Coast areas of New South Wales. The bankrupt and Messrs Dummett and Glew were the shareholders in, and the directors of, the company. The bankrupt apparently had a 40% interest in the company, Mr Dummett and Mr Glew each having a 30% interest
therein.
In November 1982 it became apparent to the directors that the company was in financial difficulties. Attempts were made to complete the work in progress and to refinance an exhibition home to generate a cash flow to enable the company to pay its creditors. However, on 10 October 1983 the company was wound up voluntarily and Messrs M.W. Prentice and §.J.
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