National Bank of Australia Limited, in the matter of Nemeth v Nemeth [2003] FCA 866

FEDERAL COURT OF AUSTRALIA

National Bank of Australia Limited, in the matter of Nemeth v Nemeth [2003] FCA 866 BANKRUPTCY - composition - application for composition to be declared void or set aside - whether greater opportunity to inquire into the debtor's affairs and a more comprehensive explanation by the debtor is called for - consideration of matters relevant to the exercise of the power to set aside the composition under s 239 of the Bankruptcy Act 1966 (Cth) - whether it is in the interests of creditors and in the public interest to set aside the composition

Bankruptcy Act 1966 (Cth), Pt X, ss 222(1), s 222(4), 239, 242

Khera v National Australia Bank Limited (1996) 71 FCR 133 cited Re Mills; Ex parte Lloyd's (1997) 73 FCR 551 followed Calverley v Green (1984) 155 CLR 242 cited Richards, Re Peter Leigh Ex Parte Beneficial Finance Corporation Limited [1986] FCA 79 cited NATIONAL AUSTRALIA BANK LIMITED v DR KATHERINE EVA NEMETH AND ORS N 7146 OF 2003 STONE J 20 AUGUST 2003 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N 7146 OF 2003

BETWEEN: NATIONAL AUSTRALIA BANK LIMITED

APPLICANT

AND: DR KATHERINE EVA NEMETH

FIRST RESPONDENT

PAUL ANDREW LEROY IN HIS CAPACITY AS CONTROLLING TRUSTEE OF THE ESTATE OF KATHERINE EVA NEMETH

SECOND RESPONDENT

THE OFFICIAL RECEIVER

THIRD RESPONDENT

JUDGE: STONE J

DATE OF ORDER: 20 AUGUST 2003

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The composition accepted by creditors on 24 April 2003 in respect of Katherine Eva Nemeth be set aside. 2. The estate of Katherine Eva Nemeth be sequestrated. 3. The applicant's costs of and incidental to this proceeding be taxed and paid in accordance with the Bankruptcy Act 1966 (Cth).