St George Bank Ltd v Helfenbaum [1999] FCA 1337

FEDERAL COURT OF AUSTRALIA

St George Bank Ltd v Helfenbaum [1999] FCA 1337 BANKRUPTCY – Creditor's petition – Grounds for refusal of sequestration order – Sufficient cause – Whether set‑off or cross claim sufficient cause – Whether real claim likely to succeed – Whether debtor able to pay debts – Meaning of "able to pay debts" – Whether "able" means "willing and able".

Bankruptcy Act 1966 s 52(2)

Ling v Enrobook Pty Ltd (1997) 74 FCR 19 applied Cain v Whyte (1933) 48 CLR 639 applied Re Player (1962) 19 ABC 277 applied Re Schmidt; Ex parte Anglewood Pty Ltd (1968) 13 FLR 111 applied Commonwealth Bank v McDonald [1999] FCA 984 applied Re Rivett; Ex parte Edward Fay Ltd (1932) 5 ABC 182 applied Re Douglas Griggs Engineering Ltd [1963] 1 Ch 19 cited Vogwell v Vogwell (1939) 11 ABC 83 cited Bank of Australasia v Hall (1907) 4 CLR 1514 considered Re Jones; Ex parte Clutterbuck Bros (Adelaide) Ltd (1930) 2 ABC 89 applied Re Noye; Ex parte Deputy Commissioner of Taxation (1958) 18 ABC 77 applied Sandell v Porter (1966) 115 CLR 666 applied Re Eather; Ex parte Polada (unreported, 30 May 1996, Cooper J) cited Re McVey; Ex parte Carswell & Co (unreported 22 May 1996, Cooper J) cited International Alpaca Management Pty Ltd v Ensor [1999] FCA 72 cited Re Sarina; Ex parte Wollondilly Shire Council (1980) 32 ALR 596 applied Clyne v Deputy Commissioner of Taxation (1981) 150 CLR 1 applied

ST GEORGE BANK LIMITED v JEFFREY LEON HELFENBAUM VG 7911 OF 1998 SUNDBERG J 24 SEPTEMBER 1999 MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VG 7911 OF 1998

BETWEEN: ST GEORGE BANK LIMITED (ACN 005 513 070)

Applicant

AND: JEFFREY LEON HELFENBAUM

Respondent

JUDGE: SUNDBERG J

DATE OF ORDER: 24 SEPTEMBER 1999

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT: 1. The application be dismissed. 2. The applicant pay the respondent's costs of the application. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.