Federal Court of Australia
CATCHWORDS
Bankruptcy - application for an order of discharge - large debts with little or no contribution - Bankrupt for little more than half the statutory period - chance more more remunerative employment - unexplained interest component in income tax return of wife - exercise of discretion to
discharge.
Bankruptcy Act 1966 ss.150(1)(c), 149(2)(b)
Re Kersten (1986) 65 A.L.R. 372
RE: DAVID NICHOLAS GAZZOLI No. W.617 of 1985
Jackson J. Sydney 17 February 1987
IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION
BANKRUPTCY DISTRICT OF THE STATE OF
)
)
) No. W.617 of 1985 NEW SOUTH WALES AND THE AUSTRALIAN )
)
)
)
CAPITAL TERRITORY
N
RE: DAVID NICHOLAS GAZZOLI Debtor CORAM: Jackson J. DATE: 17 February 1987 PLACE: Sydney REASONS FOR JUDGMENT JACKSON J.
The applicant was made bankrupt upon his own petition on
10 July 1985 and now applies under s.150(1) of the Bankruptcy Act
1966 for an order of discharge. No public examination of the bankrupt has been held and the basis on which the jurisdiction of the Court to make an order of discharge is invoked 1s s.150(1)(c), namely that more than twelve months has elapsed
Since the date of the bankruptcy.
The application for an order of discharge 1s opposed by the Deputy Commissioner of Taxation who 1s a creditor of the bankrupt's estate in the sum of $200.00 in respect of unremitted tax instalment deductions in respect of the year ended 30 June 1983 and $15,963.65 in respect of unremitted tax instalment
deductions in respect of the following year. There 1s also a
2.
claim for additional tax for late payment in the sum of
$4,459.54.
Prior to the bankruptcy the bankrupt had been engaged in the hotel business. He had operated a leasehold hotel in Alexandria prior to September 1981 and from the sale of that had received net proceeds of approximately $20,000.00. In November 1981 he and his father became directors and equal shareholders in Pijili Pty. Ltd. which in March 1982 purchased the freehold of a hotel at Surry Hills for $470,000.00, an amount provided primarily by a first mortgage of $360,000.00 by the Hooker Property Trust and also by a second mortgage to the ANZ Banking Group Limited of $40,000.00, repayment of which was guaranteed by
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate