An SMSF member has had their application to have a bankruptcy notice set aside dismissed in a recent decision by the Federal Court of Australia.
The case of Batterham v Nauerinvolved Peter Batterham, the sole member and beneficiary of an SMSF, the Batterham Retirement Fund.
The case concerned applications in two proceedings following the issue of a bankruptcy notice to the applicant, Mr Batterham, at the request of the respondent, Mr Nauer.
The bankruptcy notice required Mr Batterham to pay Mr Nauer an amount of $168,595.52. Mr Batterham was declared bankrupt on 13 November 2014. The bankruptcy was discharged on 3 December 2017.
Maylord Equity Management Pty Ltd is the trustee of the Batterham Retirement Fund, and holds any assets of the fun…
Read the full article at: https://www.smsfadviser.com/news/17542-federal-court-hands-down-decision-in-bankruptcy-case