BANKRUPTCY - application to set aside debtor's personal insolvency agreement pursuant to s 222(1)(d) or (e) Bankruptcy Act 1966 (Cth) - where agreement was approved by bare majority of creditors that included liquidators of insolvent companies formerly controlled by debtor and debtor's related entities with substantial insolvent trading claims against debtor - where material items of expenditure and interests of debtor falsely omitted from or incorrectly disclosed in statement of affairs - where unexplained credits to debtor's bank account greatly exceeded debtor's declared income - where debtor's spending extravagant - where applicant creditor offered indemnity for trustee in bankruptcy to investigate debtor's affairs - where trustee of agreement had already conducted limited investigations - where return of between 1 to 4 cents in dollar to creditors under the agreement - where sequestration order against estate of debtor might reduce return to creditors to nil - whether full investigation of the debtor's affairs would be in the interests of creditors and the public
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