9 Mar 2010
RICHARDS-MAYNARD AND MAYNARD HC AK CIV 2009-404-008191
- Citation
- openlaw-7bf83fbe_2134_4048_be2e_ab3d2b321555.pdf
- Court
- High Court
The Court approved the proposals because the trustee demonstrated compliance with the statutory procedures under the Insolvency Act 2006, the proposals were accepted by the requisite number and value of creditors, the terms are reasonable and beneficial to the general body of creditors (providing a 26 cent in the dollar return versus nil in bankruptcy), proper provision was made for trustee fees and meeting costs, and there were no objections.