New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Sale of bankrupt's property

  • 3 May 2018

    Application for vesting order N M ROEBUCK [2018] NZHC 917

    Citation
    [2018] NZHC 917
    Court
    High Court

    Where property vested in the Crown following an Official Assignee disclaimer and all affected parties either consent or do not oppose, the Court will exercise its power under s119(2) of the Insolvency Act 2006 to grant a vesting order and may dispense with service to enable transfer to the applicant to facilitate sale and maximise returns.

    • Vesting order
    • Disclaimer of property
    • Service dispensation
    • Transfer of registered lease
    • Sale of bankrupt's property

  • 16 Apr 2007

    HOLDGATE V OFFICIAL ASSIGNEE HC AK CIV-2007-404-727

    Citation
    openlaw-c9076df8_3c41_41ee_b92b_12afb4be8758.pdf
    Court
    High Court

    The caveat was quashed because it was patently untenable: it failed to particularise the claimed constructive trust interest as required by s138(1) Land Transfer Act 1952, and as a matter of law the bankrupt's property vested in the Official Assignee on adjudication so no beneficial proprietary interest in the land existed in Holdgate before completion of estate administration; at best any claim was limited to reimbursement from net proceeds equal to sums paid and not to the land itself.

    • Caveat
    • Constructive trust
    • Resulting trust
    • Vesting on bankruptcy
    • Interlocutory review under high court rules r259
    • Sale of bankrupt's property