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IN THE FEDERAL COURT OF AUSTRALIA |
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JUDGE: |
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DATE: |
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PLACE: |
REASONS FOR JUDGMENT
Amongst the property seized at the premises of the bankrupt were a number of pistols. These have now been placed in the custody of a licensed firearms dealer who holds them on behalf of the trustee, awaiting further directions. The bankrupts claim the pistols. Mrs Horvath deposed as follows:
“Those pistols are registered in my Husbands [sic] name Gabor Horvath and solely used by him for target shooting as he has been a member of the Pistol Club since 1973. Most of the Pistols are very old. They only have sentimental value.”
I accept this evidence. However, it does not take the pistols outside the definition of property divisible amongst creditors. Section 116(1) of the Bankruptcy Act 1966 (Cth) provides:
“Subject to this Act:
(a) all property that belonged to, or was vested in, a bankrupt at the commencement of the bankruptcy, or has been acquired or is acquired by him or her, or has devolved or devolves on him or her, after the commencement of the bankruptcy and before his or her discharge;
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is property divisible amongst the creditors of the bankrupt”.
There are a number of exceptions but none are applicable in the present case since there is no doubt that the pistols were the property of Mr Horvath. It must follow that they are included in the property divisible amongst his creditors. I will therefore make orders in terms of the minutes which authorise the dealer to sell the firearms on behalf of the applicant. I will make an order in terms of the minutes which I will initial and place on the file.
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I certify that this and the preceding page are a true copy of the Reasons for Judgment herein of the Honourable Justice Heerey |
Associate:
Dated: 6 August 1998
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Counsel for the Applicant: |
Mr S Glacken |
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Solicitor for the Applicant: |
Coltmans Price Brent |
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Counsel for the Respondents: |
In person |
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Date of Hearing: |
6 August 1998 |
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Date of Judgment: |
6 August 1998 |
