Re Vescovi, I. & Anor v. Ex parte Knight, D.W. [1988] FCA 86

Re Vescovi, I. & Anor v. Ex parte Knight, D.W. [1988] FCA 86

The court has power under s.33(1)(c) to extend the time for election by the trustee under s.60 of the Bankruptcy Act 1966, even after the expiration and the deemed abandonment. Authority directly on point supports this view, and the extension is granted since the late notice was only three days and the trustee has good prospects.

Parties
Debtor: Ivan Vescovi; Debtor: Debra Marie Vescovi; Trustee: Desmond William Knight; Respondent to Application: Millard and others
Jurisdiction
Australia
Judgment Date
09 March 1988
Procedural Posture
Bankruptcy Application / Application for Extension of Time
Outcome
extension granted
Legal Topics
Extension of Time, Election by Trustee, Deemed Abandonment of Action
Bankruptcy Extension of Time Election by Trustee Deemed Abandonment of Action

Case Brief

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Parties

Ivan Vescovi

Debtor

Debra Marie Vescovi

Debtor

Desmond William Knight

Trustee

Millard and others

Respondent to Application

Procedural Posture

Bankruptcy Application / Application for Extension of Time

Legal Issues

  1. 1 Whether the court has power to extend the time for election by trustee under s.60 of the Bankruptcy Act 1966 after expiration
  2. 2 Whether the consequence of 'deemed abandonment' under s.60(3) can be undone by extension under s.33(1)(c)

Ratio Decidendi

The court has power under s.33(1)(c) to extend the time for election by the trustee under s.60 of the Bankruptcy Act 1966, even after the expiration and the deemed abandonment. Authority directly on point supports this view, and the extension is granted since the late notice was only three days and the trustee has good prospects.

Court Disposition

extension granted

Orders

  • Time for making the election in s.60(2) extended to 15 January 1988
  • Costs reserved pending outcome of District Court proceedings