FEDERAL COURT OF AUSTRALIA Valassis v Bernard (in the matter of Valassis) [2001] FCA 889 DENNIS VALASSIS v ERIC BERNARD (IN THE MATTER OF DENNIS VALASSIS) NO. N 7054 OF 2001 JUDGE: BEAUMONT J DATE: 12 JUNE 2001 PLACE: SYDNEY IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY N 7054 OF 2001 BETWEEN: DENNIS VALASSIS APPLICANT AND: ERIC BERNARD (IN THE MATTER OF DENNIS VALASSIS) RESPONDENT JUDGE: BEAUMONT J DATE OF ORDER: 12 JUNE 2001 WHERE MADE: SYDNEY THE COURT ORDERS THAT: 1. The application, dated 25 January 2001, be dismissed, with costs. 2. The respondent be granted liberty to apply for indemnity costs by filing and serving a written submission to that effect within twenty-one days. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY N 7054 OF 2001 BETWEEN: DENNIS VALASSIS APPLICANT AND: ERIC BERNARD (IN THE MATTER OF DENNIS VALASSIS) RESPONDENT JUDGE: BEAUMONT J DATE: 12 JUNE 2001 PLACE: SYDNEY REASONS FOR JUDGMENT BEAUMONT J: 1 In this matter I extended time for compliance with the bankruptcy notice upon compliance with a condition that funds be paid into the trust account of the solicitors for the respondent by a nominated date, such funds to abide any further order of the court. The amount stipulated was, in fact, paid within time. 2 Accordingly, the operation of my order was that time for compliance was extended up to and including today. When the matter was called on before me this morning, Ms Parry appeared for the respondent but there was no appearance for the applicant. Ms Parry informed me, and I accept, that since the matter was last before me the Court of Appeal has dismissed the applicant's application to that Court. 3 The application before me sought first an order that the bankruptcy notice be set aside and second that pending the further order of the court the time for compliance of the notice be extended. As has been noted, time was extended for the purpose of permitting the applicant an opportunity to make his application to the Court of Appeal. That object has now been satisfied and there is no warrant for granting any further extension of time and, having regard to my earlier reasons, there is no basis for setting aside the bankruptcy notice. In those circumstances I dismiss the application which, for the record, is dated 25 January 2001, with costs. I reserve liberty to the respondent to apply for indemnity costs by filing and serving a written submission to that effect within 21 days. ORDERS 1. Application dated 25 January 2001 dismissed, with costs. 2. The respondent be granted liberty to apply for indemnity costs by filing and serving a written submission to that effect within 21 days. I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Beaumont. Associate: Dated: 11 July 2001 Solicitor for the Applicant: No appearance by the applicant Counsel for the Respondent: Ms C Parry Solicitor for the Respondent: Gray & Perkins Date of Hearing: 12 June 2001 Date of Judgment: 12 June 2001