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The High Court has dismissed an application to stay bankruptcy proceedings, allowing the process to continue. The Applicant had sought to halt the proceedings pending the outcome of plenary proceedings against the Petitioner, alleging obstruction in fulfilling the terms of an Original Consent Order. The Applicant's failure to collect chattels and pay €46,000, as required by the Original Consent Order, resulted in a judgment debt of €151,000. The Applicant did not appeal or seek to set aside this order. The Court found no satisfactory explanation for the Applicant's inaction and determined that the Applicant's assertions did not establish a substantial issue that would impact the bankruptcy summons or petition.
bankruptcy proceedings, stay application, Original Consent Order, chattels, judgment debt, plenary proceedings, obstruction, consent judgment, appeal, set aside, unjust enrichment, Official Assignee, statutory bankruptcy remedies, High Court order, finality in litigation, risk of injustice, balance of justice, doctrine of res judicata (a matter adjudged), tactical litigation, Bankruptcy Act, party and party costs.
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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