Orange Capital Limited (in liquidation) v Jindal

[2023] NZHC 3410

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

I TE KŌTI MATUA O AOTEAROA TĀMAKI MAKAURAU ROHE

CIV-2023-404-550 CIV-2023-404-1040

CIV-2023-404-1545 [2023] NZHC 3410

UNDER

the Insolvency Act 2006 and the High Court Rules 2016

BETWEEN

ORANGE CAPITAL LIMITED (IN LIQUIDATION)

Judgment Creditor

AND

GAUTAM JINDAL

Judgment Debtor

Hearing:	28 November 2023
Appearances:	J K Mahuta-Coyle for Judgment Creditor G Jindal, Judgment Debtor in person
Judgment:	28 November 2023

ORAL RESULTS JUDGMENT OF ASSOCIATE JUDGE LESTER

This oral results judgment (delivered in Court at 12:00pm today) was delivered by me on 28 November 2023 at 4:30pm

pursuant to Rule 11.5 of the High Court Rules

Registrar/Deputy Registrar

……

ORANGE CAPITAL LIMITED (IN LIQUIDATION) v JINDAL [2023] NZHC 3410 [28 November 2023]

[1]        This is an oral results judgment in the application of Orange Capital Limited (in liquidation) (Orange Capital) to have Mr Jindal adjudicated bankrupt.

[2]Mr Jindal’s opposition to Orange Capital’s application is dismissed.

[3]        Mr Jindal is to pay to Orange Capital a total of $64,354.18; that being made up of:

(a)the core debt recorded in the bankruptcy notices served upon Mr Jindal of $55,398.12;

(b)costs in respect of the bankruptcy notices and this proceeding are fixed at $8,126.00; and

(c)disbursements at $830.06.

Those three elements should add to the $64,354.18.

[4]        Mr Jindal is to pay the $64,354.18 to the liquidator of Orange Capital in cleared funds by 3:00pm Friday 1st December 2023. The payment is to be made directly to the liquidator’s trust account.

[5]        That order is in effect an unless order. If Mr Jindal does not pay that amount, there is an order that he is adjudicated bankruptcy, with the bankruptcy to be timed at 3:00pm on Friday 1 December 2023.

[6]        If it is necessary for the bankruptcy to come into effect, then the liquidator is entitled to a disbursement for the sealing of the order.

[7]        Before an order for adjudication may be sealed, Mr Mahuta-Coyle, counsel for the judgment creditor, will need to provide a formal certificate of non-payment of debt

and given the consequences for Mr Jindal, I am in no doubt Mr Mahuta-Coyle will take particular care to check that the debt has been paid. Mr Jindal would be well advised to provide evidence of the  transfer  of  funds  to  both  the  liquidator and Mr Mahuta-Coyle so there can be no question marks over that.

[8]        Assuming the payment is made, then it will overtake the adjudication application and that application will be dismissed.

Associate Judge Lester

Solicitors:

Langford Law, Aucikland

Principle Insolvency Limited Partnership, Whangarei