【破产新闻】Mehajer fails to get 'stay' on bankruptcy

APRIL 26, 2018  

Controversial Sydney businessman Salim Mehajer, whose debts include an $8.6 million tax bill, has suffered a setback in his bid to have his bankruptcy annulled.

Justice Michael Lee late on Thursday refused to grant the application for an interim order to "stay" the bankruptcy, ahead of a full hearing of his annulment bid in June.

The judge agreed it may be "an apposite description" to say Mehajer's plans were "panglossian" meaning "extreme optimism in circumstances of unrelieved adversity".

The 31-year-old's lawyer David Hume earlier gave the judge a brief rundown on Mehajer's numerous and "perhaps notorious" civil and criminal court proceedings, saying he had been a party in more than 10 cases.

He was responding to the judge's comment that: "Without sounding like an English judge saying, 'Who are the Beatles?' I haven't in the least bit been following the travails of your client."

The former Auburn deputy mayor was declared bankrupt by a Federal Circuit Court judge in March while in jail.

He was subsequently granted bail in early April over claims he staged a car crash and defrauded an insurance company.

He recently announced on social media platform Instagram he'd lodged an application to "set aside this joke", claiming "only God can bankrupt me".

On Thurday, he testified that if the stay was granted he planned to apply for a new builder's licence, continue the construction of five multi-million dollar projects and obtain off-shore finance requiring his personal guarantees.

Roger Marshall SC for the bankruptcy trustee described his plans as "panglossian".

The judge noted:"It might be thought a somewhat heroic venture" for an undischarged bankrupt to be able to secure finance for the projects suggested by Mehajer.

Mr Hume said the March bankruptcy hearing should have been adjourned as his client was then in custody and also was unable to sign a $1 million loan document, as his representative was "refused entry" into the jail.

He submitted that the creditor's petition had been deficient, allegedly misstating the amount of the debt.

The judge ruled he did not have the power to grant the interim stay on the bankruptcy order and set the full hearing down for two days from June 21.

Australian Associated Press

Source:https://www.araratadvertiser.com.au/story/5365355/mehajer-fails-to-get-stay-on-bankruptcy/

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