CROAD AND DUNPHY (AS LIQUIDATORS OF DOUBLE ZERO HOLDINGS LIMITED AND AS LIQUIDATORS OF VISION LIMITED)V RABSON HC WN CIV-2011-485-2437

CROAD AND DUNPHY (AS LIQUIDATORS OF DOUBLE ZERO HOLDINGS LIMITED AND AS LIQUIDATORS OF VISION LIMITED)V RABSON HC WN CIV-2011-485-2437

The Court lifted the prior order halting adjudication because the basis for the stay was no longer sufficient (no extant appeal pending), found jurisdictional requirements for adjudication met, and ordered the adjudication proceeded but adjourned to permit payment into Court of $91,309.21 by 28 February 2013 as security pending the debtor's application for leave to appeal to the Supreme Court; respondent to pay applicants' costs.

Citation
openlaw-52d5a54a_fced_46f4_a243_3022e0ddeebe.pdf
Parties
Judgment Creditor: Andrew Croad (as liquidator of Double Zero Holdings Limited and as liquidator of Vision Limited); Judgment Creditor: Christine Margaret Dunphy (as liquidator of Double Zero Holdings Limited and as liquidator of Vision Limited); Judgment Debtor: Malcolm Edward Rabson
Court
High Court
Jurisdiction
New Zealand
Judgment Date
18 February 2013
Procedural Posture
Insolvency / Adjudication Under the Insolvency Act 2006 / Application to Lift Stay and Proceed With Adjudication (interim Adjournment and Security)
Outcome
Application granted; previous stay lifted; adjudication adjourned subject to payment into Court; respondent ordered to pay applicants' costs.
Legal Topics
Adjudication, Stay of Proceedings, Security for Appeal, Leave to Appeal to Supreme Court, Recusal
Insolvency Law Bankruptcy Civil Procedure Adjudication Stay of Proceedings Security for Appeal Leave to Appeal to Supreme Court Recusal

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Parties

Andrew Croad (as liquidator of Double Zero Holdings Limited and as liquidator of Vision Limited)

Judgment Creditor

Christine Margaret Dunphy (as liquidator of Double Zero Holdings Limited and as liquidator of Vision Limited)

Judgment Creditor

Malcolm Edward Rabson

Judgment Debtor

Procedural Posture

Insolvency / Adjudication Under the Insolvency Act 2006 / Application to Lift Stay and Proceed With Adjudication (interim Adjournment and Security)

Legal Issues

  1. 1 Whether the Court should lift the earlier order halting adjudication under s42(2)(a) of the Insolvency Act 2006
  2. 2 Whether the jurisdictional requirements for adjudication under ss13 and 36 are met
  3. 3 Whether the Court should exercise its discretion under ss37 and 42 to decline adjudication on grounds debtor can pay or it is just and equitable

Ratio Decidendi

The Court lifted the prior order halting adjudication because the basis for the stay was no longer sufficient (no extant appeal pending), found jurisdictional requirements for adjudication met, and ordered the adjudication proceeded but adjourned to permit payment into Court of $91,309.21 by 28 February 2013 as security pending the debtor's application for leave to appeal to the Supreme Court; respondent to pay applicants' costs.

Court Disposition

Application granted; previous stay lifted; adjudication adjourned subject to payment into Court; respondent ordered to pay applicants' costs.

Orders

  • Order lifting the Court's previous order of 12 June 2012 halting the applicants' adjudication proceeding against Mr Rabson pending his appeal to the Court of Appeal.
  • Adjudication proceeding adjourned to Monday 4 March 2013, subject to the condition that Mr Rabson pay the sum of $91,309.21 into Court no later than 3 pm on Thursday 28 February 2013, such sum to be held by the Registrar as security for Mr Rabson's indebtedness to the applicants pending determination of his...