Federal Court of Australia
JUDGMENT No. mat 0) F4
esoooesens eneeccesenes
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FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES REGISTRY No. NB 2558 of 1993 GENERAL DIVISION
BETWEEN:
RE:
ALAN JAMES CHAPMAN EX PARTE:
GAVIN THOMAS Applicant
GEORGE KEKATOS First Respondent
JERRY KEKATOS Second Respondent
THE AUSTRALIA AND NEW ZEALAND BANK Third Respondent
RECEIVED ~2 DEC 1994
FEOERAL COURT OF
AUSTRALIA PRINCIPAL REGISTAY
CORAM: SACKVILLE J. PLACE: SYDNEY DATE: 25 NOVEMBER 1994
R NS FOR MENT
HIS HONOUR: In this matter Mr Hogg appears on behalf of the applicant who is the trustee of the bankrupt estate of the fourth respondent, Mr Alan James Chapman. The other respondents to the application are George Kekatos and Jerry Kekatos who are, or at least were intended to be, sureties in a proposal made by
the bankrupt to his creditors for a composition pursuant to s.73(1) of the
-2- Bankruptey Act 1966. The third respondent is the ANZ Bank. The evidence
indicates that the first and second respondents hold, or at least in the recent past,
held an account in their own name together with the names of two other persons.
Those other persons are identified in an annexure to an affidavit of Mr Chapman sworn 29 July 1994 which Mr Hogg has read as being Athanasios Kekatos and
Roxani Kekatos.
RECORDED : NOT TRANSCRIBED
HIS HONOUR: Mr Hogg has put the case on this basis. On about 9 November 1994, the bankrupt made a proposal to the trustee. Under that proposal the bankrupt stated that the sum of $610,000 would be paid by him to the trustee on or before 17 November 1994. That amount was to pay creditors in full. The proposal under s.73 of the Bankruptcy Act 1966 (assuming that is what it was) was accompanied by a document headed "Irrevocable Authority", which appears to have been signed by each of the first and second respondents. That irrevocable authority undertakes to pay to the trustee an amount of $400,000 out of account number 833285257. The amount is stated to be paid to the trustee in his capacity as trustee of the bankrupt's estate, upon acceptance by the creditors of the s.73
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