31 May 2023
BANK OF NEW ZEALAND v DAVEY [2023] NZHC 1362
- Citation
- [2023] NZHC 1362
- Court
- High Court
The court found the statutory threshold for adjudication was satisfied and the debtor failed to establish reasons under s37 to refuse adjudication: the debtor engaged in culpable commercial conduct (unauthorised $1.7m overdraft and diversion of proceeds), his claim against BNZ/receivers was filed late, lacks adequate particularity and is unlikely to resolve promptly, and absence of assets was uncorroborated; accordingly there was no basis to halt the adjudication under s38 and the Court adjudicated the debtor bankrupt.