Re Dunstan, I.M. v. Ex parte The Bankrupt [1987] FCA 682

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_ JUDGMENT No. @%a/ B77.

IN THE FEDERAL COURT OF AUSTRALIA ) GENERAL DIVISION ) QLD E1114 of 1986

BANKRUPICY DISTRICT OF THE SOUTHERN )} DISTRICT OF THE STATE OF QUEENSLAND )

RE: JAIN MAXWELL DUNSTAN EX PARTE: THE BANKRUPT

MINUTES OF ORDER

JUDGE MAKING ORDER: PINCUS J. DATE OF ORDER: 4 DECEMBER 1987 WHERE MADE: BRISBANE

THE COURT ORDERS THAT:

1. The application for discharge be dismissed.

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 DIVISTON ) QLD E1114 of 1986

BANKRUPTCY DISTRICT OF THE SOUTHERN ) DISTRICT OF THE STATE OF QUEENSLAND )

RE: IAIN MAXWELL DUNSTAN EX PARTE: THE BANKRUPT

PINCUS 7. 4 DECEMBER 1987

REASONS FOR JUDGMENT

This is an application for discharge from bankruptcy.

The applicant became bankrupt a year ago, on 1 December 1986, on the petition of Marac Finance Australia Limited, ("Marac"). According to the applicant's affidavit in support of his application, the cause of his bankruptcy was that Marac called for immediate payment of a personal loan of some $13,900 early in June 1986. He says that before that time he had been employed by an investment bank and also did "certain contract work overseas"; in the latter capacity he was owed about $8,000. He was unable to recover that sum and in dune 1986 was put off by his employer,

remaining unemployed until October in that year.

Between June 1986 and the date of the sequestration

order, the applicant says, he realised virtually all his personal

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assets in an attempt to pay his debts, but was unable to pay that

due to Marac.

The applicant also says that he is presently in employment and has been "informally offered" two promotions. He rejected those offers as he thought that to do otherwise would "place my employer's reputation and my employment itself at a risk". Further, his employer has also offered him finance for housing on favourable terms; he cannot accept it because of his