5 Nov 2007
D J LAL HC AK CIV 2007-404-3456
- Citation
- openlaw-dfef2f3d_e49f_4c89_827b_ec0fcfaed9a3.pdf
- Court
- High Court
Creditors validly approved the Part 15 proposal under s.142(3); the Law Society failed to discharge the onus to show the proposal is unreasonable under s.143(3)(b) or inexpedient in the public interest under s.143(3)(c); no sufficient evidence of misconduct or impossibility to perform payments; approval of the proposal was therefore appropriate and creditors would be worse off if bankruptcy resulted.