Wallace, John Vincent v Trade Credits Ltd [1983] FCA 315

Wallace, John Vincent v Trade Credits Ltd [1983] FCA 315

Execution against two mortgagors did not stay the judgment against the appellant, and proceedings on the bankruptcy notice should not be stayed or set aside under Bankruptcy Act s.40(1)(a) or s.41(3)(b).

Source-derived case information.

Parties
Appellant: John Vincent Wallace; Respondent: Trade Credits Limited
Jurisdiction
Australia
Judgment Date
01 November 1983
Procedural Posture
Appeal / Judgment
Outcome
Appeal dismissed
Legal Topics
Bankruptcy Notice, Guarantor Liability, Execution of Judgment, Stay of Execution
Bankruptcy Bankruptcy Notice Guarantor Liability Execution of Judgment Stay of Execution

Source-derived case record

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Parties

John Vincent Wallace

Appellant

Trade Credits Limited

Respondent

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether judgment against one guarantor is stayed by execution of judgment for possession against other guarantors
  2. 2 Whether bankruptcy notice should issue against a judgment debtor where there has been execution against other judgment debtors

Ratio Decidendi

Execution against two mortgagors did not stay the judgment against the appellant, and proceedings on the bankruptcy notice should not be stayed or set aside under Bankruptcy Act s.40(1)(a) or s.41(3)(b).

Court Disposition

Appeal dismissed

Orders

  • The appeal is dismissed.
  • The appellant is to pay the respondent's costs.