Shlakht v Nissan Finance Corporation Limited [1991] FCA 943

Shlakht v Nissan Finance Corporation Limited [1991] FCA 943

The debtor failed to discharge the onus of proving present ability to pay his debts as required by s.52(2) of the Act; therefore, a sequestration order is made.

Parties
Judgment Debtor: MARC SHLAKHT; Judgment Creditor: NIS FINANCE (ION) LIMITED
Jurisdiction
Australia
Judgment Date
26 June 1991
Procedural Posture
Sequestration Petition / Judgment
Outcome
Sequestration order granted; proceedings stayed for 21 days; petitioning creditor's costs to be taxed and paid in accordance with the statute.
Legal Topics
Sequestration Order, Ability to Pay Debts
Bankruptcy Sequestration Order Ability to Pay Debts

Case Brief

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Parties

MARC SHLAKHT

Judgment Debtor

NIS FINANCE (ION) LIMITED

Judgment Creditor

Procedural Posture

Sequestration Petition / Judgment

Legal Issues

  1. 1 Whether the debtor is able to pay his debts in accordance with s.52(2) of the Act
  2. 2 Whether a sequestration order should be granted

Ratio Decidendi

The debtor failed to discharge the onus of proving present ability to pay his debts as required by s.52(2) of the Act; therefore, a sequestration order is made.

Court Disposition

Sequestration order granted; proceedings stayed for 21 days; petitioning creditor's costs to be taxed and paid in accordance with the statute.

Orders

  • Sequestration order made against Marc Shlakht.
  • All proceedings pursuant to the sequestration order stayed for 21 days.