New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Vesting orders under s119 insolvency act

Legal area

Court

20 Apr 2021

ROUND v ROUND [2021] NZHC 827

Citation

[2021] NZHC 827
Court

High Court

Applicant failed to discharge the onus under s119(3) because he produced insufficient evidence, the proposed Family Protection Act claim had negligible prospects given undisputed misconduct (undue influence, misapplication of estate funds, rent-free occupation) which disentitles him to relief, and vesting would be unfair and prejudicial to the estate and third parties; accordingly the application to vest disclaimed litigation rights was dismissed.
31 Aug 2016

BODY CORPORATE 201036 [2016] NZHC 2035

Citation

(2016) 17 NZCPR 659
Court

High Court

Because the Official Assignee validly disclaimed the unit, the Body Corporate demonstrated concrete loss and disadvantage (unrecoverable levies and inability to obtain access to effect repairs) and no other party with a better interest was willing and capable of assuming responsibility, it was fair under s119 of the Insolvency Act to vest the disclaimed unit in the Body Corporate; the Crown did not object.