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Bankruptcy period to be extended owing to significant failure to cooperate with official assignee

By: Ian Fitzharris BL

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High Court grants application to extend a period of bankruptcy, arising from: (1) a failure to cooperate on several fronts with the official assignee in the realisation of the assets of the bankrupt's estate; (2) failing to disclose certain income or assets to the official assignee; and (3) failing to provide a statement of affairs in accordance with legislation.

Bankruptcy - application to extend period of bankruptcy - failure to cooperate with official assignee in realisation of assets - hiding from or failing to disclose income or assets to official assignee - consideration of period of possible extension - cross-examination official assignee - grounds advance to extend period of bankruptcy - movement of machinery from family farm - no evidence from bankrupt that machinery was not properly part of estate assets vested in official assignee - no explanation provided for cash sum found on bankrupt's premises - marvea injunctions applied for to prevent dissipation of certain monies from relevant bank accounts relating to bankrupt - absence of statement of affairs - difficulties encountered in administering estate of bankrupt - significant failure to cooperate - efficacy of bankruptcy process should be properly protected

Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.

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