4 Mar 2009
NZT1 LIMITED V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SCOTT CRAWFORD ANDERSON HC WN CIV 2007-485-1270
- Citation
- openlaw-a2f45dda_39f1_4dc1_b190_a3093d65cde9.pdf
- Court
- High Court
The court refused to order immediate payment under s58(2)(b) because the applicant had not received funds, the estate value was unclear and disputed, and ordering payment risked double recovery; instead the court ordered transfer of the bankrupt's interest under s58(2)(a) and, pursuant to s58(3), required the applicant to grant a first ranking general security agreement over its and the trust's assets as security (notional amount $344,000).