FEATHERSTONE PARK DEVELOPMENTS LIMITED (IN RECEIVERSHIP AND IN LIQUIDATION) V BRADLEY HC HAM CIV-2011-419-000956 and CIV-2011-419-000957

FEATHERSTONE PARK DEVELOPMENTS LIMITED (IN RECEIVERSHIP AND IN LIQUIDATION) V BRADLEY HC HAM CIV-2011-419-000956 and CIV-2011-419-000957

The Court exercised its unfettered discretion under s42 to halt the creditor's adjudication applications for six months pending the Court of Appeal hearing because the debtors were prosecuting bona fide appeals without significant delay, charging orders and lack of evidence of other assets meant the creditor would not be unduly prejudiced, and adjudication would likely render the appeals nugatory as the Official Assignee would probably not pursue them; balance of convenience favoured a stay.

Citation
openlaw-73eaba01_a382_4e22_bc7b_183be8075415.pdf
Parties
Judgment Creditor: Featherstone Park Developments Limited (in receivership and in liquidation); Judgment Debtor: Peter Michael Bradley; Judgment Debtor: Jeanette Susan Bradley
Court
High Court
Jurisdiction
New Zealand
Judgment Date
1 March 2012
Procedural Posture
Adjudication for Bankruptcy / Interlocutory Hearing; Decision Halting Adjudication Pending Appeal
Outcome
Applications for adjudication halted for six months pending Court of Appeal hearing
Legal Topics
Adjudication Orders, Bankruptcy Notices, Stay Pending Appeal, Charging Orders, Acts of Bankruptcy, Official Assignee Duties, Appeal Prosecution
Insolvency Bankruptcy Civil Procedure Appeals Adjudication Orders Bankruptcy Notices Stay Pending Appeal Charging Orders +3 more

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Parties

Featherstone Park Developments Limited (in receivership and in liquidation)

Judgment Creditor

Peter Michael Bradley

Judgment Debtor

Jeanette Susan Bradley

Judgment Debtor

Procedural Posture

Adjudication for Bankruptcy / Interlocutory Hearing; Decision Halting Adjudication Pending Appeal

Legal Issues

  1. 1 Whether the Court should exercise its discretion under s42 to halt adjudication pending appeals
  2. 2 Whether the debtors have prosecuted appeals bona fide and without undue delay
  3. 3 Whether halting adjudication would unduly prejudice the judgment creditor

Ratio Decidendi

The Court exercised its unfettered discretion under s42 to halt the creditor's adjudication applications for six months pending the Court of Appeal hearing because the debtors were prosecuting bona fide appeals without significant delay, charging orders and lack of evidence of other assets meant the creditor would not be unduly prejudiced, and adjudication would likely render the appeals nugatory as the Official Assignee would probably not pursue them; balance of convenience favoured a stay.

Court Disposition

Applications for adjudication halted for six months pending Court of Appeal hearing

Orders

  • Applications for adjudication halted for six months; matters to be called in civil chambers list at 10:00 am on 20 August 2012
  • Counsel to file a memorandum prior to that date advising the position on the appeals and whether hearing time is required for the adjudication applications