Re Temple, N.P. [1987] FCA 30

FOR LIMITED DISTRIBUTION ONLY

IN THE FEDERAL COURT OF AUSTRALIA

GENERAL DIVISION

BANKRUPTCY DISTRICT OF NEW SOUTH WALES No. B4535 of 1986

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AND THE AUSTRALIAN CAPITAL TERRITORY

RE: NEVILLE PATRICK TEMPLE

MINUTES OF ORDER Judge making order: Beaumont, J. Date order made: 5 February 1987

Where made: Sydney

THE COURT ORDERS THAT:

1. The application by the debtor, Mr. Neville Patrick Temple, to set aside bankruptcy notice No. 4535 of 1986 be dismissed.

2. The time for compliance with such notice be extended for a period of 14 days.

3. The applicant pay the judgment creditor's costs.

Note: Settlement and entry of orders is dealt with in Bankruptcy Rule 124.

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IN THE FEDERAL COURT OF AUSTRALIA

GENERAL DIVISION

BANKRUPTCY DISTRICT OF NEW SOUTH WALES No. B4535 of 1986

AND THE AUSTRALIAN CAPITAL TERRITORY

RE: NEVILLE PATRICK TEMPLE

CORAM: Beaumont, J.

DATED: 5 February 1987

REASONS FOR JUDGMENT

The applicant, Mr. Temple, has applied to set aside a bankruptcy notice served on him on 20 November 1986 by his former partner, Mr. Wily. Mr. Wily claims that the sum of $9027.25 together with interest 1s due by the applicant to him under a final judgment obtained in the District Court on 30 July 1986. The background to the matter 1s as follows. By articles of partnership dated 12 November 1984 the judgment creditor and the applicant agreed that they had commenced to carry on business as chartered accountants in partnership as from 1 July 1984. By clause 10 of that agreement, the applicant was entitled to receive as his share of the profits of the partnership "such sum of money aS 1S equal to the amount calculated in accordance with the formula set forth in the Schedule hereto." By that Schedule, the share of profits payable to the applicant with respect to the year 30 June 1985 "shall be equal to the