JEFFREY PHILIP MELTZER V PARKER STREET HOLDINGS HC AK CIV-2010-404-008293

JEFFREY PHILIP MELTZER V PARKER STREET HOLDINGS HC AK CIV-2010-404-008293

Parker Street Holdings Ltd's application was withdrawn; the trustee acted properly in presenting the proposal and had complied with the Act; Parker Street Holdings Ltd's challenge was procedurally late and deficient for lack of notice to other creditors, therefore Parker Street Holdings Ltd must pay the trustee's costs of $1,128 and the insolvent's costs of $4,888; the trustee should treat $163,000 as the cap on Mr McMillan's liability under the guarantee and may seek the Court's directions if necessary.

Citation
openlaw-e937e28f_76d1_49dd_a96c_15016a70dab1.pdf
Parties
Applicant: Jeffrey Philip Meltzer; Creditor: Parker Street Holdings Ltd; Insolvent: Peter Bryce McMillan
Court
High Court
Jurisdiction
New Zealand
Judgment Date
28 July 2011
Procedural Posture
Application to Recall/alter Court Approval of an Insolvency Proposal Under the Insolvency Act 2006 / Hearing; Application Withdrawn at Hearing, Costs Determined
Outcome
Application to recall the approval order withdrawn; costs awarded against Parker Street Holdings Ltd.
Legal Topics
Proposal Approval Under Part 5 Subpart 2, Recall of Court Order, Trustee Duties, Joinder and Notice, Costs Allocation, S333 and S339 Procedure
Insolvency Law Civil Procedure Costs Law Proposal Approval Under Part 5 Subpart 2 Recall of Court Order Trustee Duties Joinder and Notice Costs Allocation +1 more

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Parties

Jeffrey Philip Meltzer

Applicant

Parker Street Holdings Ltd

Creditor

Peter Bryce McMillan

Insolvent

Procedural Posture

Application to Recall/alter Court Approval of an Insolvency Proposal Under the Insolvency Act 2006 / Hearing; Application Withdrawn at Hearing, Costs Determined

Legal Issues

  1. 1 Whether the recall application should proceed given lack of participation and late challenge
  2. 2 Whether the trustee acted properly in presenting the proposal and whether the trustee should bear costs
  3. 3 Whether Parker Street Holdings Ltd's application was procedurally deficient for lack of notice to other creditors

Ratio Decidendi

Parker Street Holdings Ltd's application was withdrawn; the trustee acted properly in presenting the proposal and had complied with the Act; Parker Street Holdings Ltd's challenge was procedurally late and deficient for lack of notice to other creditors, therefore Parker Street Holdings Ltd must pay the trustee's costs of $1,128 and the insolvent's costs of $4,888; the trustee should treat $163,000 as the cap on Mr McMillan's liability under the guarantee and may seek the Court's directions if necessary.

Court Disposition

Application to recall the approval order withdrawn; costs awarded against Parker Street Holdings Ltd.

Orders

  • Application by Parker Street Holdings Ltd withdrawn
  • Parker Street Holdings Ltd to pay trustee costs of $1,128