GILL v K B CONTRACTING & QUARRIES LIMITED [2020] NZHC 1493

GILL v K B CONTRACTING & QUARRIES LIMITED [2020] NZHC 1493

The court approved the proposal because it complied with s327, adequate notice to creditors was demonstrated, a sufficient majority in value of voting creditors supported the proposal, the proposed payment schedule would approximately repay creditors in full, and no statutory ground under s333(3) to refuse approval was established.

Citation
[2020] NZHC 1493
Parties
Insolvent: David Gill; Creditor: KB Contracting and Quarries Limited; Creditor: Stellar Collections Limited trading as MFL Services / Creditwork Recoveries (collecting on behalf of Porter Hire Limited and Hynds Pipesystems); Creditor: Latitude Financial Services Limited trading as Gem; Creditor: Milton Graham Limited; Creditor: Flexicards Limited trading as QCard; Creditor: ASB Bank Limited; Creditor: Baycorp NZ Limited; Creditor: Harmoney Limited; Provisional Trustee: Christine Liggins
Court
High Court
Jurisdiction
New Zealand
Judgment Date
30 June 2020
Procedural Posture
Insolvency Proposal Approval Under Part 5 Insolvency Act 2006 / Application for Court Approval of Proposal Decided
Outcome
Order approving the proposal
Legal Topics
Proposal Approval, Creditor Voting, Service of Documents, Trustee Duties, Credit Agency Representation
Insolvency Law Civil Procedure Proposal Approval Creditor Voting Service of Documents Trustee Duties Credit Agency Representation

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Parties

David Gill

Insolvent

KB Contracting and Quarries Limited

Creditor

Stellar Collections Limited trading as MFL Services / Creditwork Recoveries (collecting on behalf of Porter Hire Limited and Hynds Pipesystems)

Creditor

Latitude Financial Services Limited trading as Gem

Creditor

Milton Graham Limited

Creditor

Flexicards Limited trading as QCard

Creditor

ASB Bank Limited

Creditor

Baycorp NZ Limited

Creditor

Harmoney Limited

Creditor

Christine Liggins

Provisional Trustee

Procedural Posture

Insolvency Proposal Approval Under Part 5 Insolvency Act 2006 / Application for Court Approval of Proposal Decided

Legal Issues

  1. 1 Whether the proposal complied with statutory form and accompanying statement of assets under s327
  2. 2 Whether all creditors received notice of the proposal and the application
  3. 3 Whether the court should approve the proposal under s333(3) given creditor support

Ratio Decidendi

The court approved the proposal because it complied with s327, adequate notice to creditors was demonstrated, a sufficient majority in value of voting creditors supported the proposal, the proposed payment schedule would approximately repay creditors in full, and no statutory ground under s333(3) to refuse approval was established.

Court Disposition

Order approving the proposal

Orders

  • Order approving the proposal by David Gill under Part 5, Subpart 2 of the Insolvency Act 2006 lodged with the Court on 4 October 2019.