15 Dec 2022
OFFICIAL ASSIGNEE v RAJPUT [2022] NZHC 3446
- Citation
- [2022] NZHC 3446
- Court
- High Court
The Court granted the s 339 sale order because the s 342 factors weighed in favour of sale: the property is the only realisable asset of material value in the bankrupt estate, unsecured claims and administration costs exceed the bankrupt's equity, the co-owner failed to accept or propose reasonable market offers or purchase the Assignee's share, and no opposition was filed; accordingly sale with a $1,050,000 reserve and a 28-day stay to permit purchase was ordered.