24 Nov 2021
WANG v ZHANG [2021] NZHC 3175
- Citation
- [2021] NZHC 3175
- Court
- High Court
The Court ordered that reasonable compensation for the gifted half‑share is 50% of the actual net proceeds of sale because the evidence did not establish the property was sold at an undervalue; the first defendant received the disposition in good faith and had changed circumstances (contract accepted) under s349(2) supporting the sale outcome; payments to GFL did not qualify as dispositions under s346 for which compensation could be ordered; compensation is payable to the administrator (Dennis Parsons) to hold on trust for the debtor's creditors.