26 May 2020
Re Brown [2020] NZHC 1131
- Citation
- [2020] NZHC 1131
- Court
- High Court
The Court approved the proposal under s333 because procedural requirements were met, the $40,000 offer—though a small percentage of total debts—was not derisory given the insolvent's limited realisable assets and uncertain contributions in bankruptcy, family-associated creditor votes were genuine and did not improperly determine the outcome, no public interest or misconduct concerns arose, and s333(4) priority and trustee costs were provided for.