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Results: 1-10 of 20

First ranking chargeholder retains its interest upon property vestment

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • December 19 2011

In Fenland District Council v Sheppard and others, FDC had spent £72,000 making a derelict property safe, which by the hearing date was worth less than half that amount

Recent GST cases address commissioner's priority to GST in insolvency and criteria for deregistration

  • Russell McVeagh
  • -
  • New Zealand
  • -
  • May 31 2012

Those statements from the Supreme Court and Court of Appeal should be refreshing reading for tax advisors

Commission releases information on finance company investigations

  • Bell Gully
  • -
  • New Zealand
  • -
  • December 10 2010

Between 2006 and 2010, 50 New Zealand finance companies either went into liquidation or receivership, or froze payments

Bankruptcy: canvassing other creditors not disqualifying conduct

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • December 17 2010

Bank B sought adjudication in bankruptcy of F

Power to appoint receiver - the terms of your contract are important

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • April 15 2011

In Taylor & Ors v Bank of New Zealand (HC, 14122010, Panckhurst J, Christchurch, CIV 2008-409-964), the High Court held that a bank's appointment of a receiver without any prior written notice to the debtor was in accordance with the terms of the security agreement and was therefore valid

Bank owes no duty of care to creditor of customer

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • July 1 2011

In ASB Bank Limited v Hall, the High Court confirmed that a bank does not owe a duty of care to a creditor, director or shareholder of a customer of the bank

Receivers liable for GST on mortgagee sales

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • July 21 2011

The recent case of Simpson v Commission of Inland Revenue (HC, 1752011; Dobson J, Wellington, CIV 2010-485-1860) concerned the issue of whether receivers are personally liable to account for goods and services tax (GST) on the sale of six properties effected by them

Calculating mortgagee's priority amounts under deed of priority

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • October 4 2011

In our October 2010 insolvency legal update, we reviewed the case of South Canterbury Finance Ltd v Nielsen, where the Court found in favour of second mortgagee, SCF, on the interpretation of a deed of priority

Obligations as consideration

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • March 30 2012

In Wilson v APG Holdings Ltd (In Liquidation), Mrs Rita Wilson (Mrs W) received amounts totalling approximately $1m from APG Holdings Limited (in liquidation) (APG) of which her husband, Mr Terry Wilson (Mr W), was a director

The bankrupt forgives, but will the official assignee forget?

  • Buddle Findlay
  • -
  • New Zealand
  • -
  • March 30 2012

Official Assignee v Mayers and Ors concerns the common practice of forgiveness of debt owed by a family trust and the consequences of such a gifting programme in the event of the bankruptcy of the lender