13 May 2009
ST LAURENCE LENDING LIMITED V OLLIVER HC AK CIV 2008-404-007417
- Citation
- openlaw-3d7809e3_f48f_4aa8_8b19_4ad85b15a8f4.pdf
- Court
- High Court
The Court approved the proposal because none of the statutory grounds in s333(3) were established: procedural non‑compliance was technical and not prejudicial to creditors; the proposal yields a positive return compared with the nil likely on adjudication; performance is likely given underwriting; and there was no realistic prospect that an assignee could recover assets that would materially improve creditor returns, so approval was appropriate despite objections.