18 Aug 2022
COMMISSIONER OF POLICE v FELETI [2022] NZHC 2051
- Citation
- [2022] NZHC 2051
- Court
- High Court
Given the Land Cruiser's market valuation (~NZD17000), modest ongoing depreciation (~NZD250/year), substantial holding costs (~NZD14.30/day) and a likely prolonged delay before forfeiture proceedings conclude, sale by the Official Assignee with proceeds held in an interest-bearing account is necessary and appropriate to preserve the net value of the restrained asset under s 35(e)(v).