23 Feb 2012
COMMISSIONER OF INLAND REVENUE V JP GOLLAN AS TRUSTEE IN THE GOLLAN FAMILY TRUST HC HAM CIV 2011-419-84
- Citation
- openlaw-a8e1fc4c_6781_455c_9c8c_505728632108.pdf
- Court
- High Court
The Court found the jurisdictional requirements under Insolvency Act ss13 and 36 were met and the debtor failed to establish grounds under s37 to refuse adjudication: the debt is admitted and unpaid, the debtor is again trustee of the liable trust, disclosure is incomplete, and the trading of assets and speculative funding justify Official Assignee supervision. Consequently the Court adjourned to allow the debtor to pay the undertaken sums but indicated that, absent payment, adjudication would likely be made on 19 March 2012.