8 Feb 2023
CALYPSO NO.1 LIMITED and v IAN GEORGE FISTONICH [2023] NZHC 78
- Citation
- [2023] NZHC 78
- Court
- High Court
The Court approved the proposal because the provisional trustees validly rejected Premier LP's claim for voting purposes as genuinely disputed under reg 32 and relevant authority, the amended statement of claim in the Halse Litigation did not materially alter the substance of the claim underpinning the proposal, the majority of creditors had properly accepted the proposal and the proposal was not so vague or speculative as to be unreasonable; approval was conditional on creditors receiving any net benefit of the Halse Litigation before completion of the proposal.