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Results: 1-10 of 138

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


Bell Group appeal: issues for directors and creditors
  • Bell Gully
  • Australia, New Zealand
  • November 5 2012

In the latest episode in one of Australia's most complex and lengthy commercial disputes, the Western Australia Court of Appeal recently dismissed an appeal by a syndicate of banks (the Banks) from a decision in favour of the liquidators of the Bell Group (the Group


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


Setting aside transactions: the good faith defence
  • Buddle Findlay
  • Australia, New Zealand, United Kingdom
  • December 13 2013

In Madsen-Ries v Rapid Construction Ltd 2013 NZCA 489, the Court of Appeal considered an appeal concerning a liquidator's attempt to have a


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


Consultation paper on insurance solvency standards
  • Russell McVeagh
  • New Zealand
  • February 13 2013

The Reserve Bank has published a consultation paper on insurance solvency standards: the quality of capital and regulatory treatment of financial


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


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