19 May 2010
RECEIVABLES MANAGEMENT (NZ) LIMITED AND ORS V SJ HEATH HC AK CIV-2010-404-1818
- Citation
- openlaw-d8c6a66d_fdb8_4507_9943_190981b687ca.pdf
- Court
- High Court
The Court approved the proposal because the statutory procedural requirements were satisfied, the creditors (representing over 95% of estimated claims) validly approved the proposal, the proposal is reasonable and delivers a significant return (~70%) to creditors, notice was given and there were no objections, and s333(4) requirements were met; accordingly approval was expedient and should be granted.