Monthly Archives: September 2014

Discharge after how long…

Re Tanchak (2014), 2014 SKQB 151

Mr.Tanchak applied to be discharged from bankruptcy in 2005. He was opposed by his Trustee. He declared assets of $2,800.00 and unsecured debt of $34,717.50. Nine years later, he applied to be discharged again. When he declared, he omitted to declare to the trustee that previous to declaring bankruptcy, only days before, he had entered into an agreement to sell his shares in a company and direct the proceeds to his father. No creditor or the trustee pursued the father, but the Trustee submitted that the integrity of the system was challenged by this. The registar agreed with the Trustee, and identified that the bankrupt had failed in his duty to disclose all property disposed of, and to account for any losses of assets. The court ruled that because of this, the court didn’t have the authority to grant an absolute discharge even though it had been 9 years. The court agreed that he would be discharged by paying $3,600 in monthly payments of $150.