Re Brazel A.J Ex parte Royal Nominees Pty Ltd [1995] FCA 774

CATCHWORDS BANKRUPTCY - Application to extend time for the making of an election under s.60 of the Bankruptcy Act 1966 (Cth) - delay reasonable to obtain independent information and advice - no identifiable prejudice by failure to make election. Bankruptcy Act 1966 (Cth) s.60

Re Faulkner Ex parte The Official Receiver (1981) 52 FLR 109 - Appl. Re Collins Ex parte Official Trustee in Bankruptcy and Bracher (1986) 65 ALR 338 - Appl. Re Allan Joseph BRAZEL; Ex parte Royal Nominees Pty Ltd No. QB1471 of 1995 Cooper J., Brisbane, 20 September 1995

IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION BANKRUPTCY DISTRICT OF THE STATE OF QUEENSLAND No. QB1471 of 1995 RE: ALLAN JOSEPH BRAZEL Judgment Debtor EX PARTE: ROYAL NOMINEES PTY LTD ACN 010 901 407 Judgment Creditor JUDGE MAKING ORDER:Cooper J. WHERE MADE: Brisbane DATE OF ORDER: 20 September 1995

MINUTES OF ORDER THE COURT ORDERS THAT: 1. The time for the trustees making an election under s.60 of the Bankruptcy Act 1966 (Cth) be extended to 4.00 p.m. 20 October 1995. 2. There be no order as to costs. Note: Settlement and entry of orders is dealt with in Rule 124 of the Bankruptcy Rules.

IN THE FEDERAL COURT OF AUSTRALIA GENERAL DIVISION BANKRUPTCY DISTRICT OF THE STATE OF QUEENSLAND No. QB1471 of 1995 RE: ALLAN JOSEPH BRAZEL Judgment Debtor EX PARTE: ROYAL NOMINEES PTY LTD ACN 010 901 407 Judgment Creditor

CORAM: Cooper J. PLACE: Brisbane DATE: 20 September 1995

REASONS FOR JUDGMENT This is an application by the trustees of the bankrupt estate of Allan Joseph Brazel for an extension of time during which to consider making, and if appropriate, make an election under s.60 of the Bankruptcy Act 1966 (Cth) ("the Act") to adopt proceedings in the Supreme Court of Queensland instituted by Mr Brazel on 25 November 1994 against Metway Bank Limited ("Metway"). A sequestration order was made in relation to the estate of Mr Brazel on 23 June 1995. The solicitors presently acting for the trustees, Messrs M.J. Murray and Associates, were, it is submitted by Metway, at all material times acting for Mr Brazel, as appears from an affidavit of Mr Duke Myrteza (exhibit "JHD6" to the affidavit of John Hastie Davies filed in opposition to the application by Metway).