K AFUIE V AHI ROOFING LIMITED HC WN CIV 2005-485-2158

K AFUIE V AHI ROOFING LIMITED HC WN CIV 2005-485-2158 8 September 2008IN BANKRUPTCY IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY CIV 2005-485-2158IN THE MATTER OF the Insolvency Act 1967 AND IN THE MATTER OF the bankruptcy of KALOLO AFUIE Bankrupt AND AHI ROOFING LIMITED Judgment Creditor Hearing: 8 September 2008 Counsel: M Reddy – Counsel for Official Assignee Judgment: 8 September 2008REASONS FOR DECISION OF ASSOCIATE JUDGE D.I. GENDALLSolicitors: Gibson Sheat, Lawyers, PO Box 2966, WellingtonIntroduction[1] An application by the Official Assignee for annulment of the order bankrupting Kalolo Richard Afuie ("the bankrupt") on 20 March 2006 was before the Court in the banco list this morning, 8 September 2008. [2] Having heard submissions from Ms Reddy, counsel for the Official Assignee, and noting that no opposition to the application had been notified from any creditor or any other person, I indicated that the application succeeded. An order was made annuling the bankruptcy of the bankrupt. In making that order I indicated that my detailed reasons would follow. I now set out those reasons.Reasons[3] The bankrupt was adjudicated bankrupt in this Court on 20 March 2006 on a petition brought by AHI Roofing Limited. This related to a debt to AHI Roofing Limited of $4,510.00 representing the balance then remaining on a final default judgment obtained by AHI Roofing Limited against the bankrupt in the District Court at Wellington on 18 August 2005. [4] The Official Assignee now brings the present application for an order annuling this bankruptcy pursuant to s. 119(1)(b) Insolvency Act 1967 (which has, as its equivalent, s. 309(1)(b) Insolvency Act 2006). [5] Essentially the grounds for annuling an order for adjudication under these sections is that the bankrupt's debts have been fully paid or satisfied together with all outstanding costs and disbursements owing to the Official Assignee. [6] The present application and the supporting affidavit dated 21 July 2008 of Alfred William McConnell a Deputy Official Assignee confirm that sufficient funds have been recovered from the bankrupt to fully satisfy all his creditors (which totalled less than $5,000) and in addition the Official Assignee's costs and disbursements totalling $1,946.43 have been paid.[7] No creditor has filed any objection to the present application. Indeed as I have noted all creditors have been fully paid and the present application is brought by the Official Assignee himself. [8] Under these circumstances in terms of s. 119(1)(b) Insolvency Act 1967 (and s. 309(1)(b) Insolvency Act 2006) I am satisfied that the debts of the bankrupt have been fully paid or satisfied and an annulment should be granted – Re Hansen (a bankrupt) [1971] NZLR 927. This is an appropriate case for the Court to exercise its discretion under these provisions and to annul the applicant's adjudication. [9] The order made at the hearing earlier today annuling the bankruptcy of Kalolo Richard Afuie made on 20 March 2006 is therefore confirmed. [10] If costs are in issue here, which I imagine is unlikely, counsel may file appropriate memoranda and I will decide that issue on the basis of the material filed.'Associate Judge D.I. Gendall'