A bankrupt's claim against former solicitors for wasted costs in prosecuting litigation with no real prospect of success is a claim for diminution of assets, not a claim for personal injury or wrong within s 60(4) of the Bankruptcy Act 1966 (Cth), and is therefore stayed and deemed abandoned if the trustee does not elect to prosecute. The Moss v Eaglestone exception does not apply where the underlying defamation claim had no real prospect of success. Whether non-financial loss for harm to credit and reputation is recoverable for breach of a solicitor's retainer to conduct litigation remains an open question.
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