BANKRUTPCY AND INSOLVENCY - appeal from a decision of the Federal Circuit Court of Australia setting aside a bankruptcy notice - where respondent claims to have a counter-claim, set-off or cross demand of greater value than the creditor's judgment debt - where funds not appropriated by debtor whether creditor has right to apply funds as it chooses - whether the primary judge properly considered the legal and factual merits of the respondent's claim to set aside the bankruptcy notice - appeal allowed
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