14 Oct 2016
BRADLEY v BRADLEY [2016] NZHC 2460
- Citation
- [2016] NZHC 2460
- Court
- High Court
The High Court found on the balance of probabilities that the debtor (Mrs Pearce) rendered herself insolvent as a result of the December 2013 sale and contemporaneous forgiveness of debt such that ss 346–350 of the Property Law Act 2007 applied; the respondent (Kim) was not protected under s 349 because the acquisition was not for valuable consideration and was not in good faith without knowledge; accordingly appellants were entitled to reasonable compensation under s 348(2)(b) payable directly to them under s 350(2) (court 'short-circuiting' appointment of trustee); claims for a constructive…