Federal Court of Australia
CATCHWORODS
BANKRUPTCY - application for discharge - whether cogent ground need be shown - attachment of condition to order.
Bankruptcy Act, 1966 s.150
Re: Oswald Milne Mackay
Ex parte: The Bankrupt QLD E754 of 1986
PINCUS J. BRISBANE 14 NOVEMBER 1986
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IN THE FEDERAL COURT OF AUSTRALIA ) GENERAL DIVISTON ) OLD E754 of 1986
BANKRUPTCY DISTRICT OF THE SOUTHERN ) DISTRICT OF THE STATE OF QUEENSLAND )
RE: OSWALD MILNE MACKAY EX PARTE: THE BANKRUPT
MINUTES OF ORDER
JUDGE MAKING ORDER: PINCUS J. DATE OF ORDER: 14 NOVEMBER 1986 WHERE MADE: BRISBANE
THE COURT ORDERS THAT:
The bankrupt be discharged, but the operation of this order be suspended until 26 November 1986 subject to the condition that the bankrupt undertake to the Court not to carry on business on his own account or in partnership, execute any guarantee or hold office as a director of a company, until 26 November 1987.
NOTE: Settlement and entry of orders is dealt with in Rule 124 of the Bankruptcy Rules.
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IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION
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QLD E754 of 1986
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BANKRUPTCY DISTRICT OF THE SOUTHERN DISTRICT OF THE STATE OF QUEENSLAND
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RE: QSWALD MILNE MACKAY
EX PARTE: THE BANKRUPT
PINCUS J. 14 NOVEMBER 1986
REASONS FOR JUDGMENT
The applicant became bankrupt on his own petition on 26
November 1984 and now applies for an order of discharge.
The statement of affairs disclosed liabilities of $91,095, and assets of no substantial amount. Proofs of debt for amounts totalling $55,580.89 were lodged, according to the Official Receiver''s report, and there is no prospect of a
dividend.
The report says that the bankrupt returned to Australia from New Zealand in 1978 accompanied by his wife; they had $300,000 in cash and invested the money in real estate at the Gold Coast, and also by way of loan to a company, Caprino Pty. Limited. That company, also, bought real property, using funds given to it by the bankrupt and his wife. In 1981, the company bought land at
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