New Zealand Case Law: Decisions & Judgments

Topic

Setting aside dispositions

Legal area

Court

15 Nov 2017

OFFICIAL ASSIGNEE v MWA CONSULTANTS LTD & ORS [2017] NZHC 2801

Citation

[2017] NZHC 2801
Court

High Court

The payments and assignments of the inheritance were insolvent gifts/voidable dispositions made within two years before adjudication; RedCo and MWAC cannot establish the s208 good faith defence (knowledge and intention of sole director/shareholder imputed); accordingly the transactions are cancelled and RedCo and MWAC are ordered to pay to the Assignee under s207 Insolvency Act; the Assignee lacks statutory standing to pursue compensation under s348 PLA so those PLA remedies were dismissed; the KD Trust was not a sham on the evidence.
16 Mar 2012

COMMISSIONER OF INLAND REVENUE V LY & ORS HC HAM CIV 2011-419-000768

Citation

openlaw-18f6d1dc_5f23_455c_a0d0_9aadfb7cc2c6.pdf
Court

High Court

The transfers of the two houses were dispositions within s346 made without reasonably equivalent value and with intent to prejudice the Commissioner; the Commissioner was prejudiced; the defendants failed to establish s349 defences (valuable consideration, good faith and lack of knowledge or unjust change of circumstances); accordingly orders under s348 should be made and the Commissioner’s application is granted.
11 Nov 2010

GRANT AND DRENNAN V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SUSAN SPENCER HC AK CIV-2010-404-004114

Citation

openlaw-fc301744_6420_481d_b1f0_7642ec80f17a.pdf
Court

High Court

The court found the statutory prerequisites under the Property Law Act 2007 were satisfied (dispositions occurred after 31 December 2007, the debtor was insolvent at the time, and dispositions were made with intent to prejudice creditors) and therefore granted relief under s 348(2): Lindsay Crescent was vested in the Assignee free of the specified mortgages, the memorials were ordered cancelled, the interests under the Honk Farms and TG Nominees mortgages over Gladstone Road were vested in Honk Apartments (In Liquidation) and cancelled from the register, the court ordered sale of Gladstone Ro…
4 Mar 2009

NZT1 LIMITED V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SCOTT CRAWFORD ANDERSON HC WN CIV 2007-485-1270

Citation

openlaw-a2f45dda_39f1_4dc1_b190_a3093d65cde9.pdf
Court

High Court

The court refused to order immediate payment under s58(2)(b) because the applicant had not received funds, the estate value was unclear and disputed, and ordering payment risked double recovery; instead the court ordered transfer of the bankrupt's interest under s58(2)(a) and, pursuant to s58(3), required the applicant to grant a first ranking general security agreement over its and the trust's assets as security (notional amount $344,000).
8 Sept 2006

RUTHERFORD & ANOR V ROBINSON HC AK CIV 2006-488-115

Citation

openlaw-c8bc6d18_6144_41d2_8399_fc6c8f52a1a7.pdf
Court

High Court

Although there was a prima facie finding that initial notices may not have been validly served, the defective service did not materially affect the procedural history because the bankrupt and trustees were aware of the notices and no action would have been taken; applying r 875 there were no exceptional circumstances demonstrated to displace the presumption against personal liability of the Official Assignee, so costs were not ordered against the Official Assignee personally.

New Zealand Case Law

OFFICIAL ASSIGNEE v MWA CONSULTANTS LTD & ORS [2017] NZHC 2801

COMMISSIONER OF INLAND REVENUE V LY & ORS HC HAM CIV 2011-419-000768

GRANT AND DRENNAN V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SUSAN SPENCER HC AK CIV-2010-404-004114

NZT1 LIMITED V OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SCOTT CRAWFORD ANDERSON HC WN CIV 2007-485-1270

RUTHERFORD & ANOR V ROBINSON HC AK CIV 2006-488-115