B L HAZELL V INSTANT FINANCE LTD & ORS HC AK CIV 2009-404-001280

B L HAZELL V INSTANT FINANCE LTD & ORS HC AK CIV 2009-404-001280

The proposal could not be approved because there was no evidence that the debtor, having had her vehicle seized and sold by a secured creditor, remained able to comply with the proposal condition requiring continued employment; absence of this material evidence warranted adjournment for further evidence.

Citation
openlaw-e6fa8ddf_5783_4a25_8475_84ccc8f7604d.pdf
Parties
Insolvent: Brieanna Lee Hazell; Creditors: Instant Finance Ltd & Ors
Court
High Court
Jurisdiction
New Zealand
Judgment Date
25 June 2009
Procedural Posture
Insolvency Proposal Approval Under Insolvency Act 2006 S333 / Adjourned Hearing for Further Evidence
Outcome
Proposal not approved and adjourned for further evidence
Legal Topics
Proposal Approval, Secured Creditor Enforcement, Adjournment, Corporate Representation
Insolvency Law Civil Procedure Proposal Approval Secured Creditor Enforcement Adjournment Corporate Representation

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Parties

Brieanna Lee Hazell

Insolvent

Instant Finance Ltd & Ors

Creditors

Procedural Posture

Insolvency Proposal Approval Under Insolvency Act 2006 S333 / Adjourned Hearing for Further Evidence

Legal Issues

  1. 1 Whether the court can approve a s333 insolvency proposal where a secured creditor has seized and sold a vehicle relied on by the debtor to continue employment
  2. 2 Whether there is sufficient evidence that the debtor can comply with a proposal condition requiring continued employment after loss of transport
  3. 3 Requirement for corporate parties to be legally represented (Re G J Mannix)

Ratio Decidendi

The proposal could not be approved because there was no evidence that the debtor, having had her vehicle seized and sold by a secured creditor, remained able to comply with the proposal condition requiring continued employment; absence of this material evidence warranted adjournment for further evidence.

Court Disposition

Proposal not approved and adjourned for further evidence

Orders

  • Proposal adjourned to 30 July 2009 at 11:45 am
  • Debtor, through the provisional trustee, to file further evidence as to current position and whether the debtor can comply with the terms of the proposal