18 Feb 2009
NZT1 LIMITED V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SCOTT CRAWFORD ANDERSON HC WN CIV 2007-485-1270
- Citation
- openlaw-8e51ffc6_70de_44f5_8802_789f85fc2d1e.pdf
- Court
- High Court
The Court refused to order immediate payment under s58(2)(b) because the applicant had not demonstrated receipt of funds, the estate value was uncertain and there was a risk of double recovery; instead the disposition was set aside and the Court ordered transfer of the bankrupt's interest under s58(2)(a) and, pursuant to s58(3), imposed ancillary security by requiring registration of a first debenture over the applicant's assets (notional amount $344,000) to secure the bankrupt's entitlement until actual distribution.