21 Mar 2011
A V SIMPKIN HC WHA CIV-2010-488-000778
- Citation
- openlaw-3e95fe3b_3596_41d6_8e26_e35069c89938.pdf
- Court
- High Court
The Court approved the proposal because the covering letter date error was a minor irregularity that caused no prejudice, the creditors had lawfully and unanimously approved the proposal and their commercial judgment favored a prompt partial dividend over likely bankruptcy returns, and there were no public interest reasons requiring bankruptcy; the proposal was to be amended to ensure any surplus from specified property sales is paid to creditors.