29 Aug 2011
SOUTH CANTERBURY FINANCE LIMITED (IN RECEIVERSHIP) v E SEREPISOS HC WN CIV-2011-485-279
- Citation
- openlaw-31132438_a788_433b_bebb_d66b68a61f32.pdf
- Court
- High Court
The court exercised its discretion to grant a limited adjournment to allow service and consideration of the Part 5 proposal because there was a plausible prospect that an orderly realisation could benefit creditors and key creditors supported the adjournment, but imposed strict conditions (service, creditors' meeting, review date) and safeguards to prevent prejudice to creditors and to monitor for substantial opposition.