30 May 2018
BELL ASSOCIATES v FOLEY and FOLEY [2018] NZHC 1282
- Citation
- [2018] NZHC 1282
- Court
- High Court
Bell Associates proved the statutory requirements for adjudication; the Court exercised its discretion under s37 and concluded it was not just and equitable to refuse adjudication because both debtors were insolvent, Diane Foley's anticipated inheritance did not justify further delay given statutory waiting periods and past stalling, and Stephen Foley presented significant undisclosed tax and child support arrears and other risk factors warranting Official Assignee oversight; accordingly both were adjudicated bankrupt.