24 Apr 2007
KROON V WESTPAC BANKING CORPORATION & KROON V AUCKLAND FINANCE LTD HC AK CIV 2006-404-4720
- Citation
- openlaw-c33fa251_044e_4096_9efb_21aff4804e4c.pdf
- Court
- High Court
The debtor failed to show the claim against the valuers was sufficiently viable and likely to be resolved in the near term to justify depriving creditors of their prima facie right to adjudication; balancing public interest, enforcement of guarantees and the benefit of Official Assignee investigation, the court exercised its discretion to adjudicate the debtor bankrupt.
- Bankruptcy adjudication
- Stay or dismissal of petition
- Enforcement of guarantees
- Professional negligence (valuation)
- Judicial discretion under s26