6 May 2011
TRUSTEES EXECUTORS LTD V BRUCE RENNICK LAYBOURN HC AK CIV-2010-404-001994
- Citation
- openlaw-9d6b6ceb_319e_46a6_8a08_978b9d49f5f5.pdf
- Court
- High Court
Jurisdictional facts were established (debt and act of bankruptcy) and on exercise of the court's discretion the debtor failed to demonstrate that adjudication would be unjust or inequitable; the Wanaka property's realistic market value left a substantial shortfall for the creditor, the creditor was entitled to be held to account under the guarantee, and adjudication would enable investigation of the debtor's affairs (including trust transactions) to protect creditors' interests, therefore adjudication ordered.