Healy v A.C. Components Pty Ltd [1995] FCA 142

CATCHWORDS BANKRUPTCY - Application to set aside bankruptcy notice - Application for extension of time for compliance with a bankruptcy notice pursuant to s 41 (6A) - whether respondents waived their right to payment in accordance with the deed - whether respondents estopped from insisting on prompt payment of instalments by reason of implied representations - whether terms of deed provide for payment of a penalty - whether court should go behind consent judgement Bankruptcy Act 1966 (Cth) s 41 (6A) Grundt v Great Boulder Proprietary Gold Mines Limited (1937) 59 CLR 641 at 675 Legione v Hateley (1982) 152 CLR 406 at 436 Olivieri v Stafford (1989) 24 FCR 413 at 424 Streimer v Tamas (1981) 37 ALR 211 McLean v Australia and New Zealand Banking Group Limited(1993) 42 FCR 300 No. SN 796 of 1994 RE: ALWYN HEALY Debtor EX PARTE: ALWYN HEALY Applicant - and - A.C. COMPONENTS PTY LTD and A.C. (WHOLESALE) COMPONENTS PTY LTD Respondents Branson J. Adelaide 21 March 1995

IN THE FEDERAL COURT OF AUSTRALIA) ) SOUTH AUSTRALIA DISTRICT REGISTRY) No. SN 796 of 1994 ) GENERAL DIVISION ) ) BANKRUPTCY DISTRICT OF THE STATE ) ) OF SOUTH AUSTRALIA ) RE: ALWYN HEALY Debtor EX PARTE: ALWYN HEALY Applicant - and - A.C. COMPONENTS PTY LTD and A.C. (WHOLESALE) COMPONENTS PTY LTD Respondents REASONS FOR JUDGEMENT CORAM: Branson J. PLACE: Adelaide DATE 21 March 1995 The applicant in this matter has applied for orders that the bankruptcy notice dated 24 November 1994 issued against him by the respondents be set aside and that the time for compliance with the bankruptcy notice be extended pursuant to s.41 (6A) of the Bankruptcy Act ("the Act"). BACKGROUND FACTS The bankruptcy notice recites that the respondents claim the sum of $25,170.79, being the balance due under a final consent