Federal Court of Australia
NOT CONSIDERED SUITABLE FOR DISTRIBUTION
IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION
BANKRUPTCY DISTRICT OF THE STATE OF NEW SOUTH WALES AND THE AUSTRALIAN CAPITAL TERRITORY
No. W.233 of 1986
JOHN ROBERT WOODWARD
Bankrupt
BURCHETT J.
Well, I am satisfied, then, in this matter. I do not think 1t 1s necessary to recite the details which are set out in
the affidavits and in Mr. Bluett's report.
It has been submitted that the case 1s quite similar, in
1ts circumstances, to Re Gianacas; Ex parte The Official Receiver
(1983) 48 A.L.R. 537. I think there is considerable similarity. No case, of course, 1S a precedent for another case as to factual matters. But I am content respectfully to follow the principles
that were stated in that case.
I have heard some brief evidence from the applicant, the bankrupt. No creditor has appeared to oppose his application, and the Official Receiver has drawn my attention to aspects of the case, but has not reported any matter under subsection (6) of
section 150.
% { t i. Pe Lan b
I think it is clear ~ and the bankrupt does not dispute it - that he did allow himself to get into a situation where his resources were over-stretched, and where there was-~ an unacceptable element of risk in the transactions in which he was involved. He was, of course, a young man at the time, and he has lost significantly as a result. I think I should act on the basis that he will not, in future, overlook the lesson he has been so forcibly taught. He has qualifications, and it is open to him to resume the practice of his profession as from 30 June of this year. In all the circumstances, I think I should make
orders that will facilitate that.
There appears to be nothing outstanding in the administration of the estate which would provide any reason for doing otherwise. The only considerations seem to me to be considerations of what is the appropriate exercise of a discretion which is there, partly, to ensure the protection of the commercial community. I do not think that those considerations require that the debtor should remain a bankrupt for a significantly longer period. There is the matter of an amount of $1536.40 required to meet outstanding fees and costs of
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