26 Nov 2012
PRICE WATERHOUSE COOPER FINANCE V HRL CARTWRIGHT (ALSO KNOWN AS H JORONEN AND H SIMPSON) HC WN CIV-2012-485-2057
- Citation
- openlaw-8d6dafe0_20d7_493f_a675_346eeb7ce5ac.pdf
- Court
- High Court
The court approved the creditors' proposal because the statutory procedures were complied with, the required majority of known creditors (six of seven holding 80.99% of indebtedness) voted in favour, and the terms—progressive payments over five years clearing approximately 81% of the total debt—were reasonable and beneficial to the general body of creditors, making it expedient to approve the proposal.