14 Sept 2017
The court approved the proposal because all statutory requirements were complied with, the proposal was reasonable and calculated to benefit the general body of creditors, and there was no reason under s 333(3) to refuse approval given the limited nature of the court's discretion.
12 May 2011
The court declined to adjourn or stay BNZ's adjudication application and adjudicated Mr McCall bankrupt because he had committed an available act of bankruptcy, his proposal was not credible or adequately particularised, gave rise to an inference of contrivance or continued incurring of liabilities, and allowing the proposal would prejudice the creditor and be contrary to the public interest; matters should be investigated by the Official Assignee.
26 May 2009
The Court approved the proposal under s333 because the trustee's report demonstrated that proper notice was given, creditors (including secured creditors) voted unanimously to accept a proposal that pays all creditors in full over three years, the restraint on secured creditors was knowingly accepted by experienced commercial creditors, and a minor discrepancy in small debt amounts did not affect the substance or fairness of the proposal.