12 Mar 2020
EDMONDS v ASB BANK LIMITED [2020] NZHC 496
- Citation
- [2020] NZHC 496
- Court
- High Court
Although there was doubt about the formal ability to approve a joint proposal and the notice was given by email without the statutory agreement required, the Court approved the proposal because it otherwise complied with the Act, was supported by the requisite majority of creditors and was calculated to benefit the general body of creditors; approval was granted as a case-specific exercise of discretion and not as a precedent for future cases.