27 May 2016
RICHARD ZHAO LAWYERS LIMITED v CHEN [2016] NZHC 1134
- Citation
- [2016] NZHC 1134
- Court
- High Court
The court held that insolvency set-off under s 254 and s 113(2) permits application of the solicitor's earmarked trust funds of $13,402.25 against the creditor's claims, reducing the debtor's minimum indebtedness to $4,586.05; given the small net sum and the court's discretion, the matter was adjourned and the debtor was given opportunity to pay $4,586.05 by 16 June 2016 or face likely adjudication.