Re Brazel A.J Ex parte Royal Nominees Pty Ltd [1995] FCA 774

Re Brazel A.J Ex parte Royal Nominees Pty Ltd [1995] FCA 774

It was reasonable for the trustees to delay making the election in order to obtain their own independent advice and information, and no identifiable prejudice to Metway Bank was established from the delay; thus, the discretion to extend the time was properly exercised in favour of the trustees.

Jurisdiction
Australia
Judgment Date
20 September 1995
Procedural Posture
Bankruptcy Application / Application for Extension of Time to Make Election Under S.60 of Bankruptcy Act
Outcome
Extension of time granted
Legal Topics
['extension of Time' "trustee's Election" 's.60 of Bankruptcy Act 1966']
['bankruptcy'] ['extension of Time' "trustee's Election" 's.60 of Bankruptcy Act 1966']

Case Brief

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Procedural Posture

Bankruptcy Application / Application for Extension of Time to Make Election Under S.60 of Bankruptcy Act

Legal Issues

  1. 1 ['Whether the trustees should be granted an extension of time to make an election under s.60 of the Bankruptcy Act 1966 (Cth)']

Ratio Decidendi

It was reasonable for the trustees to delay making the election in order to obtain their own independent advice and information, and no identifiable prejudice to Metway Bank was established from the delay; thus, the discretion to extend the time was properly exercised in favour of the trustees.

Court Disposition

Extension of time granted

Orders

  • ['The time for the making of an election under s.60 of the Bankruptcy Act 1966 (Cth) be extended to 4.00 p.m. 20 October 1995.' 'There be no order as to costs.']