Federal Court of Australia
JUDGMENT No. 74:9./,.8%...
CATCHWORDS
BANKRUPTCY - composition -— application to declare void or set aside - omission of material particulars in statements of affairs - whether in the interest of creditors to declare composition void - whether full payment of agreed sum to trustee by debtors means that "the final payment has been made under the composition" within the meaning of sub~s.222(6) of the Act — whether composition should be set
aside "for any other reason" - relevant factors.
Bankruptcy Act 1966 ss.187(1), 222 and 239
RE: JAMES IAN LOVE and DEBRA JANE LOVE EX PARTE: NATIONAL AUSTRALIA BANK LIMITED
No. 564 of 1987
Woodward J 21 July 1988 Melbourne
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IN THE FEDERAL COURT OF AUSTRALIA
GENERAL DIVISION
No. 564 of 1987 BANKRUPTCY DISTRICT OF THE
STATE OF VICTORIA
RE: JAMES IAN LOVE and DEBRA JANE LOVE
Debtors
. and
EX PARTE: NATIONAL AUSTRALIA BANK LIMITED
a Creditor
MINUTES OF ORDER
COURT: Woodward J.
DATE: 21 July 1988
PLACE: Melbourne
THE COURT ORDERS THAT:
1. The compromise entered into on 21 January 1988
be set aside.
2. Sequestration orders be made against the estates of
the debtors.
Note: This order is to be settled and filed in accordance with rule 124 of the Bankruptcy Rules.
ey,
IN THE FEDERAL COURT OF AUSTRALIA)
GENERAL DIVISION
No. 564 of 1987 BANKRUPTCY DISTRICT OF THE
ee ee
STATE OF VICTORIA
RE: JAMES IAN LOVE and DEBRA JANE LOVE
Debtors and
EX PARTE: NATIONAL AUSTRALIA BANK LIMITED
a Creditor
COURT: Woodward J.
DATE: 21 July 1988
PLACE: Melbourne
REASONS FOR JUDGMENT
WOODWARD J.
This is application to have a composition under Part X of the Bankruptcy Act 1966 ('the Act') either declared void pursuant to s.222 of the Act or set aside pursuant to
$.239.
Those sections, so far as they are relevant for present purposes, provide as follows: "222 (1) ..... (2) ....e (3) ...--
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