In the matter of an application for discharge from bankruptcy Re Aarons, John Roland Ex Parte Aarons, John Ronald [1978] FCA 116

In the matter of an application for discharge from bankruptcy Re Aarons, John Roland Ex Parte Aarons, John Ronald [1978] FCA 116

The Court found that it was not established the bankrupt carried on a business that would require keeping business books as under s. 150(6)(a), nor that rash speculation in shares contributed to the bankruptcy as under s. 150(6)(e)(i). The bankrupt's lack of diligence in contributions and late filing of statement of affairs were of concern, justifying the adjournment of the application.

Parties
Applicant/bankrupt: John Roland Aarons; Respondent/trustee: Official Receiver
Jurisdiction
Australia
Judgment Date
10 May 1978
Procedural Posture
Bankruptcy Application for Discharge / Order on Application for Discharge
Outcome
Application adjourned; liberty to restore
Legal Topics
Discharge of Bankruptcy, Business Records, Speculation in Shares, Contributions to Estate
Bankruptcy Discharge of Bankruptcy Business Records Speculation in Shares Contributions to Estate

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Parties

John Roland Aarons

Applicant/bankrupt

Official Receiver

Respondent/trustee

Procedural Posture

Bankruptcy Application for Discharge / Order on Application for Discharge

Legal Issues

  1. 1 Whether the applicant failed to keep sufficient business records as required under the Bankruptcy Act 1966
  2. 2 Whether the applicant contributed to his bankruptcy by rash speculation in shares
  3. 3 Whether the applicant failed to make adequate contributions to his estate

Ratio Decidendi

The Court found that it was not established the bankrupt carried on a business that would require keeping business books as under s. 150(6)(a), nor that rash speculation in shares contributed to the bankruptcy as under s. 150(6)(e)(i). The bankrupt's lack of diligence in contributions and late filing of statement of affairs were of concern, justifying the adjournment of the application.

Court Disposition

Application adjourned; liberty to restore

Orders

  • The application stands out of the list generally; the bankrupt may apply for restoration on a date not earlier than 5 April 1979 with at least 14 days' notice to the Official Receiver.
  • Costs reserved.