Cases Update: Carlamax Properties Pty Ltd v Phontos

The Federal Magistrates Court of Australia has released their decision in Carlamax Properties Pty Ltd v Phontos [2012] FMCA 125 (28 February 2012).

In a case dealing with a Creditor’s petition in bankruptcy the key questions considered were: 

• whether grounds for an adjournment

• whether the creditor was a secured creditor

• whether for other sufficient cause a sequestration order ought not to be made.  

Key Orders made by the Court were:

• Leave is granted to amend the Petition by altering the date of the act of bankruptcy

• The requirement to serve the amended Petition was dispensed with. 

• A sequestration order was made against the estate of Michael Phontos.

To read the full case you can download a copy of the decision here.

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