Patane v Asteron Life Ltd (formerly Royal & Sun Alliance Financial Services Ltd) (ACN 001 698 228) [2004] FCA 232

FEDERAL COURT OF AUSTRALIA

Patane v Asteron Life Ltd (formerly Royal & Sun Alliance Financial Services Ltd) (ACN 001 698 228) [2004] FCA 232 BANKRUPTCY – appeal from a decision of Federal Magistrate dismissing application for review of Registrar's decision refusing application to set aside bankruptcy notice – whether appellant had 'counter-claim, set-off or cross demand equal to or exceeding the amount' in the bankruptcy notice – claim under policy of insurance brought in District Court – date at which quantum of 'counter-claim, set-off or cross demand' should be calculated for purposes of s 40(1)(g) of the Bankruptcy Act 1966 (Cth) – appeal dismissed.

Federal Court Rules O 77 r 7 Federal Magistrates Court Rules r 20.00A, r 20.03

Bankruptcy Act 1966 (Cth) ss 40(1)(g), 41(7), 41(6A) Insurance Contracts Act 1984 (Cth) District Court Act 1991 (SA)

Patane v Royal & Sun Alliance Financial Services Ltd [2003] FMCA 128 affirmed Patane v Associated National Life Insurance [2000] SADC 60 referred to Associated National Life Insurance Co and Tyndall Life Insurance v Patane [2000] SASC 443 referred to In re GEB, a debtor [1903] 2 KB 340 cited In re a Bankruptcy Notice (1934) Ch 431 cited Guss v Johnstone (2000) 171 ALR 598 discussed Moss and Moss v Sun Alliance (1990) 55 SASR 145 referred to Settlement Wine Company Pty Ltd v National & General Insurance Co Ltd (1994) 62 SASR 40 followed Tatt v NRMA Insurance Ltd (1988) 5 ANZ Insurance Cases 75,196 referred to CIC Insurance Ltd v Bankstown Football Club Ltd (1997) 187 CLR 384 cited Elilade Pty Ltd v Nonpareil Pty Ltd [2002] FCA 909 cited Re Schmidt; Ex parte Angelwood Pty Ltd (1968) 13 FLR 111 distinguished

ANTONIO PATANE v ASTERON LIFE LTD (FORMERLY ROYAL & SUN ALLIANCE FINANCIAL SERVICES LTD) (ACN 001 698 228) No S 539 of 2003 LANDER J ADELAIDE 16 MARCH 2004