26 Sept 2017
OFFICIAL ASSIGNEE v MATHIESEN [2017] NZHC 2349 ]
- Citation
- [2017] NZHC 2349
- Court
- High Court
The Official Assignee is subrogated to the former trustee's right of indemnity and equitable lien securing advances from the bankrupt; the Sweet Pea Trust is insolvent and the only realisable asset is the Trust Property; accordingly the Court will order a judicial sale of 282 Timaru-Pareora Highway to realise funds to satisfy trust liabilities and the Official Assignee's judgment, reserve distribution issues for later, and make procedural directions and costs orders.