New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Proposal under part 5

Legal area

Court

30 Oct 2020

MENZIES v AMERICAN EXPRESS INTERNATIONAL (NZ) INC [2020] NZHC 2858

Citation

[2020] NZHC 2858
Court

High Court

The Proposal is approved because it was in the prescribed form, properly notified, the provisional trustee's report complied with the Regulations, the required majority in number and three quarters in value voted in favour, and the Proposal is not unreasonable and benefits the general body of creditors under s333(3).
9 Jun 2011

DAVID STEWART HENDERSON V THE COMMISSIONER OF INLAND REVENUE HC AK CIV-2009-404-004351

Citation

openlaw-edb01e7e_06af_4bf4_950c_7bd559f97670.pdf
Court

High Court

Adjournment denied and adjudication ordered: the court refused to halt the adjudication because of excessive delay (18+ months), significant public interest in prompt resolution and minimizing risk to third parties, prior statutory non-compliance in the first proposal, the slender and disputed margin by which the second proposal purportedly passed, likely further delay and prejudice to creditors; accordingly the court exercised its discretion to adjudicate the debtor bankrupt.