New Zealand Case Law: Decisions & Judgments

Topic

Part 5 creditors' proposal

Legal area

Court

9 Nov 2012

ULLRICH ALUMINIUM CO LIMITED V THE BANKRUPTCY OF DJ BLACKMORE HC WN CIV-2012-485-730

Citation

openlaw-1b137f13_0676_4161_bff6_e4c3f09903e9.pdf
Court

High Court

The court refused to adjudicate the debtor bankrupt immediately because the Part 5 proposal had not been formally filed and served and could not be summarily characterised as hopeless without full argument and investigation; therefore the bankruptcy application was adjourned to allow the Part 5 application to be properly made, served and scrutinised and for clarification of the debtor's debts and liabilities.
17 Oct 2011

TA ROSS v BK ROSS HC WN CIV-2010-485-2515

Citation

openlaw-d82198af_4f11_4a8f_ae00_a72000db1e3e.pdf
Court

High Court

For the bankruptcy application the Court allowed category 2B costs under Items 17, 18, 19 and 4.18 (total 1.2 days = $2,256.00). For the Part 5 Creditors' Proposal the Court disallowed Item 2 and instead allowed Item 4.13 (0.6 days = $1,128.00), Items 4.14 and 4.15 (0.25 days each = $470.00 each) and Item 4.18 (0.2 days = $376.00) for a total of 1.3 days = $2,444.00. Total category 2B costs awarded to Ms Ross were $4,700.00 plus disbursements to be fixed by the Registrar.
29 Sept 2011

TA ROSS v BK ROSS HC WN CIV-2010-485-2515

Citation

openlaw-a4a4a889_ef73_4901_b92c_9cc45dee7e57.pdf
Court

High Court

The proposal was dismissed under s333(3)(b) and (c) because it was materially deficient and misleading (failure to disclose trust-owned property and associated offsets, treating secured mortgage as unsecured, no provision for contribution from the debtor's substantial future income, and proposal structured to primarily benefit family trusts and the bank rather than the general body of creditors), and it was not expedient to approve it; having rejected the proposal the Court adjudicated the debtor bankrupt under s13 because the statutory thresholds were met and s37 discretionary grounds to ref…
6 May 2010

GORMAN VERMEL INTERNATIONAL FREIGHT LIMITED V RP DURNEY HC NAP CIV-2009-441-744

Citation

openlaw-56c25f89_99b5_47a8_a288_989938cd3efa.pdf
Court

High Court

The court adjudicated the debtor bankrupt because on the debtor's own figures he was manifestly insolvent, the Part 5 proposal was speculative, filed late and unlikely to satisfy s33(3), and the circumstances warranted appointment of the Official Assignee to investigate; therefore adjudication and costs were ordered.

New Zealand Case Law

ULLRICH ALUMINIUM CO LIMITED V THE BANKRUPTCY OF DJ BLACKMORE HC WN CIV-2012-485-730

TA ROSS v BK ROSS HC WN CIV-2010-485-2515

TA ROSS v BK ROSS HC WN CIV-2010-485-2515

GORMAN VERMEL INTERNATIONAL FREIGHT LIMITED V RP DURNEY HC NAP CIV-2009-441-744