17 Oct 2007
C T M BROWNIE HC AK CIV 2007-404-004859
- Citation
- openlaw-b3c59e5f_cbf3_4e29_a901_1ce5975087d0.pdf
- Court
- High Court
The Court approved the proposal under s143 because it was accepted by the requisite majority including unrelated creditors, produced a better return for creditors than likely in bankruptcy, the debts were incurred in ordinary trading without evidence of commercial recklessness, and the BNZ's concerns did not establish that ongoing court oversight or refusal was expedient.