2 Aug 2011
THE COMMISSIONER OF INLAND REVENUE V PO BARNETT AS TRUSTEE IN THE BARNETT FAMILY TRUST HC WN CIV-2011-454-29
- Citation
- openlaw-50df4348_9a63_4c35_a13d_aee509617184.pdf
- Court
- High Court
The court found s13 satisfied: the District Court judgment for $652,863.25 exceeded the $1,000 threshold, the debtor failed to comply with a Bankruptcy Notice within three months constituting an act of bankruptcy, and the debt was certain and payable; the debtor produced no evidence he could pay and his defenses, including that the judgment was a bill of exchange, were legally untenable under the Bills of Exchange Act 1908, so the court exercised its discretion under s37 to grant adjudication and adjudicated the debtor bankrupt.