Official Trustee in Bankruptcy, in the Matter of Shaw [1999] FCA 968

Official Trustee in Bankruptcy, in the Matter of Shaw [1999] FCA 968

Because each bankrupt had failed to file a statement of affairs after notification, the Court had jurisdiction under s 146. The Trustee's examinations of the bankrupts provided a satisfactory alternative to statements of affairs, the only distributable asset was the proceeds of jointly held property, the proved...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
23 June 1999
Procedural Posture
Bankruptcy Application Under S 146 of the Bankruptcy Act 1966 (cth) / Ex Tempore Reasons for Judgment and Orders
Outcome
Application granted.
Legal Topics
['administration of Bankrupt Estates' 'distribution of Dividends' 'failure to File Statements of Affairs' 'joint Estate and Joint Creditors']
['bankruptcy'] ['administration of Bankrupt Estates' 'distribution of Dividends' 'failure to File Statements of Affairs' 'joint Estate and Joint Creditors']

Source-derived case record

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Procedural Posture

Bankruptcy Application Under S 146 of the Bankruptcy Act 1966 (cth) / Ex Tempore Reasons for Judgment and Orders

Legal Issues

  1. 1 ['Whether, under s 146 of the Bankruptcy Act 1966 (Cth), distribution of dividends to creditors who have proved their debts should proceed as if the bankrupts had filed statements of affairs and those creditors had been stated to be creditors in them.' 'Whether the existence of persons who are or might be creditors but have not proved debts should prevent the order sought.' 'Whether the joint estate should be administered for proved joint debts where the only asset available for distribution is proceeds of property held as joint tenants.']

Ratio Decidendi

Because each bankrupt had failed to file a statement of affairs after notification, the Court had jurisdiction under s 146. The Trustee's examinations of the bankrupts provided a satisfactory alternative to statements of affairs, the only distributable asset was the proceeds of jointly held property, the proved creditors were treated as joint creditors, and the joint estate would be more than exhausted by admitted joint claims. Making an order in the terms of s 146 would preserve the Trustee's statutory obligations, including any required notices, so distribution could proceed as sought.

Court Disposition

Application granted.

Orders

  • ['The distribution of dividends to the creditors who have proved their debts shall proceed in accordance with Division 5 of Part VI of the Bankruptcy Act, as if the bankrupts had filed statements of affairs in accordance with the prescribed form and those creditors had been stated to be creditors in it.' "The...