Eaton bankrupt but not beaten

Lawyer Jim Johnson after
the Eaton examination
Photo: SiN Images

GILES Woodgate’s protracted dealings with bankrupt electrician Stuart Alexander Eaton continue to throw up intriguing developments.

At a recent examination in the Federal Magistrates Court Woodgate's legal team alleged that Eaton “has access to a stream of revenues that the bankrupt has not disclosed to the trustee”.

Not perhaps the most startling allegation a trustee has ever made but what’s not quite as common is the trustee hauling the bankrupt’s offspring into a court in a bid to verify his suspicions.

To that end Eaton’s adult son Mitchell Eaton spent much of the day explaining how he was made director of Eaton Electrical Group (EEG), a company through which much of the business’s revenues and profits pass.

Delaney happy to be summoned for $480 an hour

Giles Woodgate outside
the Federal Magistrates Court
Photo: SiN Images

SPECIALISTS in Family Law are no strangers to proceedings involving bankrupt clients, which is one reason why Michael Delany of Delany Lawyers spent much of the morning racking up his $480 per hour fee sitting in a witness box in the Federal Magistrate’s Court.

Delaney was complying with a summons issued by Giles Woodgate, trustee of the bankrupt estate of Stuart Alexander Eaton.

Woodgate is running a public examination into the bankrupt's affairs after his interest was piqued by details of Eaton's living arrangements, which include sharing a $2200 per week Vaucluse rental with his four children.