RE G R ROBERTSON HC WN CIV-2001-485-550

RE G R ROBERTSON HC WN CIV-2001-485-550

Because the trustee demonstrated compliance with the proposal terms and s145(1)(d) — notice given, no opposition, expiration of the specified period, dividend paid exceeding the projected amount, and satisfaction that no litigation remains beneficial to creditors — the Court was satisfied termination of the Part XV proposal was appropriate and ordered termination with the consequential extinguishment of remaining unsecured claims under the proposal.

Citation
openlaw-9eea9bce_9ab2_46c5_959f_e5c13357e169.pdf
Parties
Trustee / Applicant: John Corryn Gwilliam; Proposed Insolvent / Debtor: Graham Ross Robertson
Court
High Court
Jurisdiction
New Zealand
Judgment Date
25 July 2006
Procedural Posture
Bankruptcy Part XV Proposal Termination / Hearing on Trustee's Application for Termination Under S145 Insolvency Act 1967
Outcome
Part XV proposal terminated; remaining notified unsecured creditor claims extinguished as provided in the proposal.
Legal Topics
Part XV Proposal Termination, Trustee Duties, Dividends to Creditors, Extinguishment of Unsecured Claims, S145 Insolvency Act 1967
Insolvency Bankruptcy Civil Procedure Part XV Proposal Termination Trustee Duties Dividends to Creditors Extinguishment of Unsecured Claims S145 Insolvency Act 1967

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Parties

John Corryn Gwilliam

Trustee / Applicant

Graham Ross Robertson

Proposed Insolvent / Debtor

Procedural Posture

Bankruptcy Part XV Proposal Termination / Hearing on Trustee's Application for Termination Under S145 Insolvency Act 1967

Legal Issues

  1. 1 Whether the Court should terminate an approved Part XV proposal under s145(1)(d)
  2. 2 Whether the trustee is satisfied that no litigation to which the insolvent is a party can be properly pursued for the benefit of creditors
  3. 3 Whether the dividend paid meets or exceeds the amount stated in the proposal

Ratio Decidendi

Because the trustee demonstrated compliance with the proposal terms and s145(1)(d) — notice given, no opposition, expiration of the specified period, dividend paid exceeding the projected amount, and satisfaction that no litigation remains beneficial to creditors — the Court was satisfied termination of the Part XV proposal was appropriate and ordered termination with the consequential extinguishment of remaining unsecured claims under the proposal.

Court Disposition

Part XV proposal terminated; remaining notified unsecured creditor claims extinguished as provided in the proposal.

Orders

  • Order terminating the Part XV Insolvency Act 1967 proposal approved 26 August 2002 for Graham Ross Robertson.
  • Direction that on termination all notified claims of unsecured creditors of Graham Ross Robertson, to the extent unsatisfied by payments made under the proposal, are deemed extinguished and may no longer be brought or enforced against him.