In Stockco Ltd v Denize the applicants sought an order to set aside bankruptcy notices on the ground that the creditor had not complied with High Court Rule 24.8(3).  That Rule requires that a certified copy of the judgment or order on which the bankruptcy notice is based must be attached to the bankruptcy notice.  The applicants claimed that the notice was defective as it was served separately from copies of the judgment.

Justice Ellis recently confirmed the position applicable when a bankrupt applies for a stay of the decision adjudicating the debtor bankrupt pending appeal.

Mr Cary had been made bankrupt on 12 September 2011 as a result of a long outstanding debt to Trustees Executors Limited.  His opposition to the bankruptcy was based solely on the fact that Mr Cary thought he should be given more time to advance a proposal to creditors under Part 5 of the Insolvency Act 2006.  This was rejected by the Court for a variety of reasons, and the adjudication order made.

In Official Assignee v Spencer, Mr Spencer's bankruptcy period was extended from three to six years due to his conduct and failure to comply with his obligations under the Insolvency Act 1967 (Act). 

Mr Spencer was adjudicated bankrupt for the second time in August 2007 and was due to be discharged from bankruptcy in 2010.  However, the Official Assignee objected to Mr Spencer's discharge and asked the Court to exercise its discretion and decline to order the discharge.

The recent case of Re Armitage, ex parte Established Investments Limited (in liquidation) considered an objection by the Official Assignee to Mr Armitage's automatic discharge from bankruptcy. 

Finnigan v He underlines the obligatory nature of bankruptcy set-off whereby once the statutory requirements that exist in section 310 of the Companies Act 1993 are met (and no exclusion applies), such a set-off is mandatory. It also discusses when a transaction occurs and the operation of the exclusion in section 310(2) that preludes bankruptcy set-off.

Bank B sought adjudication in bankruptcy of F.

[2007] NZCA 122

Decision of The Court Of Appeal of New Zealand on Sham and Alter Ego Trusts

Facts and Decision  

Recent changes in Peruvian insolvency laws1 will now allow financial institutions and insurance company counterparties to close-out and net obligations under derivatives and repurchase agreements with Peruvian financial institutions or insurance companies which become subject to bankruptcy proceedings.

The newly enacted law also creates the General Office of Control and Property Records of the General Bankruptcy Receivership, dependent of the Supreme Court, which main duty shall be to maintain a permanent control of the property guarded by the various bankruptcies, while becoming a permanent database contributing to the transparency of insolvency proceedings.

El proceso concursal de liquidación está regulado en la Ley 12 del 19 de mayo de 2016, cuya vigencia inició el pasado enero.

Al igual que el proceso concursal de reestructuración, este tipo de procesos puede iniciarse a solicitud del deudor, de los acreedores o a requerimiento de un representante de un proceso de insolvencia en el extranjero. En cualquiera de los supuestos, la finalidad del proceso es la liquidación pronta y ordenada de la empresa que ha resultado ineficiente.