20 Jul 2012
OFFICIAL ASSIGNEE V QUENTIN STOBART HAINES HC HAM CIV-2008-419-001290
- Citation
- openlaw-fb63a9f6_4899_427e_8dc7_b437d64152bd.pdf
- Court
- High Court
The Court approved the composition because statutory meeting and voting requirements under ss312–313 were met, the terms are reasonable and benefit the general body of creditors (creditors accepted a 3% dividend knowing bankruptcy would yield nothing), priority debts are provided for, there is no misconduct warranting refusal, funds to effect the distribution exist, and no other reason under s315(3)(d) to refuse approval existed.