IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY NG 7035 of 1998 BETWEEN: BBC HARDWARE LTD Applicant AND: CHARLIE BOUTROS Respondent JUDGE(S): MADGWICK J DATE OF ORDER: 31 MARCH 1998 WHERE MADE: SYDNEY SHORT MINUTES OF ORDER THE COURT ORDERS THAT, by consent: 1. The sequestration order made on 4 March 1998 is annulled. 2. The petition be listed in the Registrar's list for 15 April 1998. 3. There will be no order as to the costs of the application. 4. The applicant creditor is to pay the Trustee's costs assessed in the sum of $500.00. IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY NG 7035 of 1998 BETWEEN: BBC HARDWARE LTD Applicant AND: CHARLIE BOUTROS Respondent JUDGE(S): MADGWICK J DATE: 31 MARCH 1998 PLACE: SYDNEY REASONS FOR JUDGMENT (revised from transcript) HIS HONOUR: This is an application to annul or to set aside a sequestration order made on 4 March 1998. The applicant was the petitioning creditor, and the sequestration order was obtained on the faith of an affidavit by one of its officers that the debt that lay at the heart of the act of bankruptcy was still unpaid as at 3 March 1998. However, there was an error in the records, and the fact that on 25 January that debt had in fact been paid by the respondent debtor had not come to the notice of the deponent of that affidavit. A more senior officer of the applicant creditor has attested to these matters and on very proper legal advice has brought this application. The trustee offers no objection thereto provided his costs are paid. A supporting creditor, the Fair Trading Administration Corporation, also appears and the Court has been informed that it has arranged with the respondent debtor a compromise and a timetable for payment of the alleged debt which caused it to be a supporting creditor. The supporting creditor offers no objection to the annulment of the sequestration order, but that creditor and the debtor jointly ask the Court not to dismiss the petition but to leave it on foot pending the expiration of that timetable. No other creditor having come forward and, the Trustee, apparently feeling confident enough that none is likely to, to have consented to this application, subject to costs, it seems to me to be a proper exercise of discretion by the Court that I proceed as I am asked. Accordingly I order that, by consent, the sequestration order made on 4 March 1998 is annulled. The petition will be listed in the Registrar's list for 15 April 1998 for consideration. By consent there will be no order as to the costs of the application. However, also by consent, the applicant creditor is to pay the Trustee's costs assessed in the sum of $500. I certify that this and the preceding one (1) pages are a true copy of the Reasons for Judgment herein of the Honourable Justice Madgwick Associate: Dated: 31 March 1998 Solicitor for the Applicant: Appleby & Nilson Date of Hearing: 31 March 1998 Date of Judgment: 31 March 1998