13 Sept 2017
The Commissioner satisfied s13; Mr Fagan is presently unable to pay and his asserted sources of funds are speculative and not demonstrably imminent; his prior default and criminal history do not justify withholding adjudication; exercising the s37 discretion, the court adjudicated the debtor bankrupt.
28 Oct 2015
The Court declined to exercise its s 37 discretion because no sufficient grounds were advanced to ignore or set aside the Disputes Tribunal judgment, finality in litigation must be upheld, and the judgment sum remained outstanding; adjudication was ordered and the debtor adjudicated bankrupt.
16 Jun 2014
Weighing all factors under s37, the Court found the debtor insolvent, culpable in his conduct as a director (materially causative by failure to govern), insufficiently candid about income and trust arrangements, and that public interest and commercial morality require adjudication; accordingly adjudication in bankruptcy was ordered to take effect subject to procedural certification.
15 Oct 2010
The Court found an act of bankruptcy had been committed and the s13 requirements were satisfied; payments into court did not establish solvency because the debtor provided no verified financial disclosure and other creditors' unpaid costs exceeded funds held; exercising its discretion under s37, the Court declined to refuse adjudication outright but instead ordered a limited stay to allow the debtor short time to satisfy debts and directed payment of $9,105.36 to the judgment creditor from funds held in court, reserving further action if debts remain unpaid.
7 Sept 2010
The creditor proved the debt arising from costs orders; the debtor produced no evidence he is able to pay; there is no basis to exercise the s37 discretion to refuse adjudication; the bankruptcy notice was valid despite absence of prior invoice or demand; the asserted counterclaim was previously struck out and does not prevent adjudication; therefore the court adjudicated the debtor bankrupt.
20 Nov 2008
Adjudication was refused because the debtor was able to pay his debts and there were assets available against which the creditor could execute; adjudicating a solvent debtor in these circumstances would be a misuse of the bankruptcy process which is aimed at insolvent persons.