Russo v Private Funds Management Pty Ltd [2011] FCA 542

The appeal was dismissed as there was no error detected in the Federal Magistrate's decision which refused review of the sequestration order, and Mr Russo's grounds were either unparticularised or set out only orders sought without substantiation; evidence showed he lacked ability to pay his debts as and when due.

Jurisdiction: Australia
Judgment Date: 26 May 2011
Procedural Posture: Appeal / Judgment
Outcome: Appeal dismissed
Legal Topics: ['sequestration Orders' 'ability to Pay Debts' 'appeal Procedure']

['bankruptcy' 'civil Procedure'] ['sequestration Orders' 'ability to Pay Debts' 'appeal Procedure']

Case Brief

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Procedural Posture

Appeal / Judgment

Legal Issues

1 ['Whether the Federal Magistrate erred in the decision refusing review of the sequestration order' 'Whether the Sequestration Order should be stayed or revoked' 'Whether the requirements of s 52 of the Bankruptcy Act were satisfied' 'Whether the appellant had the ability to pay debts as and when due']

Ratio Decidendi

Court Disposition

Appeal dismissed

Orders

['The appeal be dismissed.' 'If any party wishes to submit that costs should not follow the event that party should file and serve short written submissions (of no more than two pages) on or before 2 June 2011.' 'If any party files such written submissions any other party may file and serve any answering submissions...