In Day v The Official Assignee as Liquidator of GN Networks Ltd (in Liq) [2016] NZHC 2400, the High Court rejected a claim that the funding arrangement at issue constituted maintenance or champerty.

The Existing System

Despite its introduction to the Slovak legal system in 2006, current laws on debt relief within the framework of bankruptcy of natural persons have not been a viable solution.

Basing the legal institute of debt relief on a two-step procedure:

• starting with bankruptcy (i.e. liquidation of (all) the debtor’s assets)
• then followed by a three-year trial period at the end of which the court releases a resolution on the possibility of personal bankruptcy

has in fact hindered debtors from filing.