17 Apr 2023
COMMISSIONER OF POLICE v MCQUADE [2023] NZHC 798
- Citation
- [2023] NZHC 798
- Court
- High Court
The Court ordered sale because continued storage costs and anticipated depreciation would erode value, several vehicles were low value or demonstrably declining in marketability, a significant delay before any forfeiture hearing was likely, and claimed sentimental or third-party interests did not outweigh the need to preserve the assets' value; accordingly the Official Assignee was directed to sell the nine restrained vehicles and hold proceeds in an interest-bearing trust account until resolution of the proceedings.