28 Aug 2013
Re WARREN and TUCK [2013] NZHC 2199
- Citation
- [2013] NZHC 2199
- Court
- High Court
Having tested the market and obtained a recent registered valuation demonstrating very limited demand, and with the mortgagor bankrupt and the Official Assignee having disclaimed, the court concluded the valuer's price of $160,000 exclusive of GST represented the best price reasonably obtainable and therefore granted permission under s200(3)(d) for the mortgagees to purchase the property, permitting procedure by originating application and to proceed without notice.