THE COMMISSIONER OF INLAND REVENUE v P J TAIT-JAMIESON [2016] NZHC 1123

THE COMMISSIONER OF INLAND REVENUE v P J TAIT-JAMIESON [2016] NZHC 1123

The insolvent failed to perform material obligations of the approved proposal (only half of instalments paid and none since April 2014), no satisfactory explanation or progress on the contingent claim was shown, and the statutory power under s339 permits cancellation and adjudication where the insolvent has not...

Source-derived case information.

Citation
[2016] NZHC 1123
Parties
Creditor: Commissioner of Inland Revenue; Insolvent: Peter John Tait-Jamieson
Court
High Court
Jurisdiction
New Zealand
Judgment Date
26 May 2016
Procedural Posture
Application to Cancel Creditors' Proposal Under Insolvency Act 2006 / Hearing on Cancellation and Adjudication (post Approval)
Outcome
Application granted: proposal cancelled and insolvent adjudicated bankrupt
Legal Topics
Proposal Cancellation, Adjudication of Bankruptcy, Creditors' Meetings and Notice, Compliance With Proposal Terms, Public Interest in Tax Collection
Insolvency Law Tax Law Bankruptcy Law Proposal Cancellation Adjudication of Bankruptcy Creditors' Meetings and Notice Compliance With Proposal Terms Public Interest in Tax Collection

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Parties

Commissioner of Inland Revenue

Creditor

Peter John Tait-Jamieson

Insolvent

Procedural Posture

Application to Cancel Creditors' Proposal Under Insolvency Act 2006 / Hearing on Cancellation and Adjudication (post Approval)

Legal Issues

  1. 1 Whether the insolvent failed to comply with the terms of the approved proposal (s336)
  2. 2 Whether the creditors' meeting that voted to cancel the proposal was validly convened/served
  3. 3 Whether the Court should exercise its power under s339 to cancel the proposal and adjudicate bankrupt

Ratio Decidendi

The insolvent failed to perform material obligations of the approved proposal (only half of instalments paid and none since April 2014), no satisfactory explanation or progress on the contingent claim was shown, and the statutory power under s339 permits cancellation and adjudication where the insolvent has not complied; therefore the Court must cancel the proposal and adjudicate the insolvent bankrupt.

Court Disposition

Application granted: proposal cancelled and insolvent adjudicated bankrupt

Orders

  • The creditors' proposal is cancelled
  • Order adjudicating Peter John Tait-Jamieson bankrupt, time of order 12:00 noon