Commonwealth Bank of Australia v Conley, in the matter of Conley [2006] FCA 1011

Commonwealth Bank of Australia v Conley, in the matter of Conley [2006] FCA 1011

There is no sufficient cause to not make a sequestration order, as Mr Conley is insolvent and his Supreme Court proceedings are not sufficiently advanced to justify withholding the order under s 52(2)(b) of the Bankruptcy Act 1966 (Cth).

Parties
Applicant Creditor: Commonwealth Bank of Australia; Respondent Debtor: Stephen Conley
Jurisdiction
Australia
Judgment Date
04 July 2006
Procedural Posture
Creditor's Petition / Hearing and Judgment
Outcome
sequestration order made against the estate of Stephen Conley
Legal Topics
Creditor's Petition, Sequestration Order, Cross Claim, Mortgagee's Power of Sale, Equitable Relief, Contracts Review Act 1980 (nsw)
Bankruptcy Creditor's Petition Sequestration Order Cross Claim Mortgagee's Power of Sale Equitable Relief Contracts Review Act 1980 (nsw)

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Parties

Commonwealth Bank of Australia

Applicant Creditor

Stephen Conley

Respondent Debtor

Procedural Posture

Creditor's Petition / Hearing and Judgment

Legal Issues

  1. 1 Whether a sequestration order should be made against the estate of Stephen Conley
  2. 2 Whether sufficient cause exists under s 52(2)(b) of the Bankruptcy Act 1966 (Cth) for not making the order
  3. 3 Whether Mr Conley has a bona fide cross-claim against the bank

Ratio Decidendi

There is no sufficient cause to not make a sequestration order, as Mr Conley is insolvent and his Supreme Court proceedings are not sufficiently advanced to justify withholding the order under s 52(2)(b) of the Bankruptcy Act 1966 (Cth).

Court Disposition

sequestration order made against the estate of Stephen Conley

Orders

  • A sequestration order be made against the estate of Stephen Conley.
  • The applicant creditor's costs, including any reserved costs, be taxed and paid from the estate of the respondent debtor in accordance with the Bankruptcy Act 1966 (Cth).