6 Dec 2010
MAY YAN WANG AND ANOR V COMMISSIONER OF INLAND REVENUE AND ANOR HC AK CIV-2010-404-3177
- Citation
- openlaw-7905561c_ff30_4242_8f30_b1fc26a3bf59.pdf
- Court
- High Court
The Court refused approval because the insolvent's verified statement of affairs materially and demonstrably omitted and misrepresented key interests (notably her effective contingent/indirect beneficial and control position in the UBNZ Trust and undisclosed BVI company interests), such non‑disclosure meant the proposal did not comply with the statutory requirements (s327) and therefore approval could not be granted under s333; further, the proposal was not reasonable or expedient given the substantial trust property potentially available to creditors and the public interest in investigation…