Former MP Yagama a bankrupt

News that matter in Papua New Guinea

Former MP Yagama a bankrupt

PORT MORESBY: Former Usino-Bundi MP Anton Yagama was declared a bankrupt on Oct 24 by the National Court.

Acting Judge Emma Wurr declared Yagama bankrupt after he failed to pay costs of an election petition in the National Court in 2017.

Yagama was a former Public Enterprises and State Investment Vice-Minister who was elected MP on Aug 3, 2012, on a United Resources Party ticket.

The news break was reported by The National:

Former MP declared bankrupt

October 31, 2022The NationalMain Stories

FORMER Usino-Bundi MP Anton Yagama has been declared bankrupt by the Waigani National Court.
Acting Judge Emma Wurr in her decision on Oct 24 declared Yagama bankrupt after he failed to pay costs of an election petition in the National Court in 2017.
Yagama was elected Usino-Bundi MP in General Election 2012 (GE12) but lost to Jimmy Uguro in GE17. Yagama then filed an election petition against Uguro disputing the win.
Yagama lost his election petition and was ordered by the National Court to pay costs.
However, he failed to pay which resulted in Uguro filing a case in the National Court.
Wurr in her decision said the Registrar of the National Court with the assistance of Uguro (the petitioning creditor) would take necessary steps under the Insolvency Act to facilitate the first meeting of the creditor of the appointment of a trustee to administer the estate of Yagama.
She said the first appointed general meeting of the creditors would be held on a date selected between Nov 11 and Nov 18, or another time set by the registrar or Uguro.
Wurr ordered Yagama to attend at the registered office of the trustee or the trustee’s nominated place on Dec 2 and deliver to the appointed trustee a full and accurate statement and verified an oath of:

  • YAGAMA’S debts and other liabilities;
  • NAMES and residences of his creditors; and,
  • THE cause of his inability to meet his engagements.

“The petitioning creditor (Uguro) shall be entitled to his cost of the proceeding and his cost shall be assessed on a party to party basis which may be taxed if not agreed.
When the costs and expense have been taxed, they shall be repaid by the appointed trustee to the petitioning creditor, out of the first monies received from the estate of the insolvents,” Wurr said in her order.

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