New Zealand Case Law: Decisions & Judgments

Topic

Expediency

Legal area

Court

12 Feb 2021

RE COLEMAN [2021] NZHC 143

Citation

[2021] NZHC 143
Court

High Court

The Court granted the vesting order under s 52(1)(h) because the chain of succession established the present beneficiaries (Coleman two-thirds; Guy one-third), both beneficiaries consented, and substantial practical and legal obstacles made ordinary transfers impracticable; therefore it was expedient and for the benefit of the trust to vest the land in the identified beneficiaries to enable them to deal with the property.
18 Apr 2016

Re Diston [2016] NZHC 722

Citation

[2016] NZHC 722
Court

High Court

The court found statutory requirements (ss327, 328, s333(4)) satisfied, the enhanced terms and increased contributions meant the proposal was not derisory and was likely preferable to a bankruptcy in commercial terms, the majority creditors' approval (including banks) was entitled to weight, and no sufficient expediency reason existed to refuse approval; accordingly the proposal was approved under s333.
3 Mar 2015

WESTPAC NEW ZEALAND LIMITED v HERBERT BRUCE ARMITAGE [2015] NZHC 337

Citation

[2015] NZHC 337
Court

High Court

The Court refused to approve the linked proposals under s 333(3)(c) because substantial creditor claims by related parties lacked contemporaneous documentary support, creating genuine suspicion that required investigation by the Official Assignee; it was therefore not expedient to approve the proposals.
8 Aug 2011

MAGSONS HARDWARE LIMITED TRADING AS MITRE 10 MEGA V GEORGE BOGIATTO COA CA525/2010

Citation

COA CA525/2010
Court

Court of Appeal

Neither statutory precondition for refusal under s333(3)(b) or (c) was established: the proposal was objectively calculated to benefit the general body of creditors when adjusted for net unsecured exposure, creditors' commercial judgment supported approval, there was no reliable evidence that additional funds were lawfully available, and there was no causal link between the debtor's historic convictions and the insolvency or any present dishonesty; accordingly approval should not be refused and the appeal is dismissed.

New Zealand Case Law

RE COLEMAN [2021] NZHC 143

Re Diston [2016] NZHC 722

WESTPAC NEW ZEALAND LIMITED v HERBERT BRUCE ARMITAGE [2015] NZHC 337

MAGSONS HARDWARE LIMITED TRADING AS MITRE 10 MEGA V GEORGE BOGIATTO COA CA525/2010