20 Dec 2013
IRONSTONE HOLDINGS LIMITED v BHASKAR PRASAD [2013] NZHC 3529
- Citation
- [2013] NZHC 3529
- Court
- High Court
The adjudication will not be annulled under s 309(1)(a) because although the underlying District Court judgment was later varied, the debtor failed to take the statutory steps under s 30 to contest an overstated bankruptcy notice and the court would still have been entitled to adjudicate on the indisputable debt; annulment under s 309(1)(b) is premature because there is no concrete proposal to pay creditors and the Official Assignee must first assess claims; the suspension of adjudication is lifted; the existing order for sale cannot be enforced because enforcement is barred by s 77 after adv…