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- The bankrupt had a long running dispute with family over the sale of unencumbered property in Sydney.
- The bankrupt failed to pay the strata levies on second property.
- The bankrupt suffered from a poor cashflow position.
- The bankrupt did not have the ability to resolve the issues with family nor pay the outstanding levies.
- An agreement was reached between the parties for the sale of the property over which there was a dispute.
- The bankrupt moved residence into the unit.
- All creditors were paid in full including interest on their debts.
- The bankrupt received a healthy refund of surplus funds.
- The bankrupt is now debt free, has significant funds on which to live going forward and the dispute within the family has been resolved.
- Creditors were paid in full.
- Prolonged litigation between the parties over the property is now no longer required