Federal Court of Australia
JUDGMENT No. oun Oal th.
NOT F DISTRIBUTI
FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES REGISTRY No NP 907 of 1994 GENERAL DIVISION
BETWEEN: LLOYD CLIVE McDERMOTT AND:
EX PARTE: COMMONWEALTH BANK OF AUSTRALIA
CORAM: SACKVILLE J. RECEIVED PLACE: SYDNEY DATE: 8 NOVEMBER 1994 16 NOV 1994 FEDERAL COURT OF AUSTRALIA PRINCIPAL
REASONS FOR JUDGMENT REGISTRY
HIS HONOUR: This matter comes before me for the purpose of determining in the first instance whether an adjournment of two weeks ought to be granted. The application for the adjournment is made by Mr Pollack who appears on behalf of the debtor Mr Courtenay appears on behalf of the petitioning creditor, the Commonwealth Bank of Australia, who resists the application for adjournment There appears to be no dispute as to the course of events that the matter has taken, It appears that an order for substituted service of the creditor's petition was made and complied with. The matter was before the court on 29 August 1994 and was adjourned until 26 September 1994, On 26 September 1994 it was adjourned until today's date. Both
adjournments were by way of consent of the parties.
The petition was based upon what 1s sard to be a final judgment recovered in
the District Court on 22 September 1993 in the sum of $57,280.29 plus interest. The act of bankruptcy 1s sard to be the failure on or before 31 January 1994 to comply with the requirements of a bankruptcy notice served on the debtor on 17 January 1994 or to satisfy the court that there was a counter claim set off or cross demand equal to or exceeding the sum specified in the bankruptcy notice The evidence before the court indicates that on 26 September 1994 the solicitors for the creditor wrote to the solicitors for the debtor noting that the
matter had been adjourned until today's date The letter noted also an agreement that $10,000 was to be paid by bank cheque by 4 pm on Friday 30 September 1994. A further $15,000 was to be received by 4 pm on 1 November 1994. The letter went on to state that if those requirements were
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