8 Jun 2021
RE URQUHART [2021] NZHC 1326
- Citation
- [2021] NZHC 1326
- Court
- High Court
The Court refused to approve the proposal because there remained material and unresolved concerns about lack of transparency and unexplained aspects of the insolvent's financial affairs (including possible undisclosed means and complex intercompany/trust transactions), which undermined confidence that the proposal was reasonable or expedient and warranted an independent investigation (e.g. by the Official Assignee) before approval.