18 Apr 2016
Re Diston [2016] NZHC 722
- Citation
- [2016] NZHC 722
- Court
- High Court
The court found statutory requirements (ss327, 328, s333(4)) satisfied, the enhanced terms and increased contributions meant the proposal was not derisory and was likely preferable to a bankruptcy in commercial terms, the majority creditors' approval (including banks) was entitled to weight, and no sufficient expediency reason existed to refuse approval; accordingly the proposal was approved under s333.