Gibbons v Grace Team Accounting Limited HC Tauranga CIV-2011-470-446

[2011] NZHC 1732

IN THE HIGH COURT OF NEW ZEALAND TAURANGA REGISTRY

CIV-2011-470-446

UNDER  the Insolvency Act 2006

IN THE MATTER OF     the bankruptcy of CRAIG GIBBONS of 26

Balmacewan Place, Mount Maunganui, Painter

BETWEEN  CRAIG GIBBONS Judgment Debtor

ANDGRACE TEAM ACCOUNTING LIMITED

Judgment Creditor

Hearing:         18 November 2011

Appearances: Mr Moorcroft for Judgment Creditor

Judgment Debtor in person

Judgment:      18 November 2011

ORAL JUDGMENT OF ASSOCIATE JUDGE DOOGUE

Solicitors:

Bush Forbes McLeod, P O Box 526, Tauranga - [email protected]

Copy:

Mr Gibbons, 26 Balmacewan Place, Mount Maunganui.

GIBBONS V GRACE TEAM ACCOUNTING LIMITED HC TAU CIV-2011-470-446 18 November 2011

[1]      The accountant and creditors in this case are owed $5,600.  Mr Gibbons is plainly insolvent however the Court has a discretion whether or not to order the adjudication and bankruptcy of persons even if demonstrably insolvent.  Mr Gibbons has minor debts, although I do not underestimate the importance to companies such as the creditor in receiving payment of amounts in the vicinity of what is due to them, however given Mr Gibbons difficult personal circumstances and that a bankruptcy would produce little or nothing by way of dividend and that this matter is at the very low end of insolvencies so there would be little or no justification for the Official Assignee conducting enquiries in investigating the affairs of the bankrupt generally which is another benefit sometimes to be derived from making bankruptcy orders,  I  conclude  that  in  this  case  it  would  not  be  a  proper  exercise  of  the jurisdiction vested in me to adjudicate Mr Gibbons bankrupt.   The application is

dismissed and costs will lie where they fall.

J.P. Doogue

Associate Judge