New Zealand Case Law: Decisions & Judgments

SKELTON V JONES HC HAM CIV 2006-419-748

Citation

openlaw-dfed0432_abb7_4da5_81ae_d46c437043df.pdf

Court

High Court

Although jurisdictional requirements under s23 were met, the court exercised its discretion under s26 to grant a single adjournment on strict terms to limit prejudice to the creditor: the debtor must file a notice of opposition and affidavit by 13 August 2007 and the matter is to be called on 27 August 2007.

20 Apr 2007

S SHANKLAND & ANOR V NUMERIA FINANCE LIMITED A DULY INCORPORATED COMPANY HAVING ITS REGISTERED OFFICE AT LEVEL 1, 237 TAMAKI DRIVE, KOHIMARAMA, AUCKLAND, FINANCIERS HC AK CIV2006-404-5919

Citation: openlaw-ac523036_4993_4d72_a2dc_d20757660b6a.pdf
Court: High Court

The judgment debt ($219,990.65) substantially exceeded the value of any remaining securities held by Numeria: the boat had been realised pre-judgment and applied to the claim, and the aggregate value of remaining possible securities (Porsche, indemnity, recourse) falls well short of the debt. Numeria satisfied the s25 threshold that the debt exceeds security by at least $200, and no other sufficient reason existed under s26 to refuse adjudication; accordingly the Court adjudged the debtors bankrupt.