21 Dec 2022
CUMMINS v BODY CORPORATE 172108 [2022] NZCA 658
- Citation
- [2022] NZCA 658
- Court
- Court of Appeal
A creditor's entitlement to be subrogated to a trustee's right of indemnity and to the trustee's lien over trust property does not constitute a 'charge on or over property owned by a debtor' for the purposes of the Insolvency Act 2006; consequently such a creditor is not a secured creditor under s 3/s 14 and cannot rely on secured creditor protections in bankruptcy proceedings