Questnet Limited v Lane HC Auckland CIV 2008-404-7693

Case

[2010] NZHC 512

21 April 2010

No judgment structure available for this case.

IN THE HIGH COURT OF NEW ZEALAND

AUCKLAND REGISTRY

CIV-2008-404-7693

UNDER  the Insolvency Act 2006

IN THE MATTER OF     the bankruptcy of WILFRED ROYCE LANE

BETWEEN  QUESTNET LIMITED Judgment Creditor

ANDWILFRED ROYCE LANE Judgment Debtor

Hearing:         19 and 21 April 2010

Counsel:         Robert Hucker and Danisha Langsiu for Judgment Creditor

No appearance Judgment Debtor

Judgment:      21 April 2010 at 9:12am

[ORAL] JUDGMENT OF HUGH WILLIAMS J.

A.  There will be an order adjudicating  the  Judgment  Debtor  bankrupt  on

21 April 2010 at 9:12a.m.

B.  The  costs  are  to  be  dealt  with  in  accordance  with  paragraph  [37]  of  this judgment.

Introduction

[1]      This is an application for  the  adjudication  in  bankruptcy  of  the  Judgment

Debtor, Mr Lane.

QUESTNET LIMITED V  LANE HC AK CIV-2008-404-7693  21 April 2010

[2]      As  will  be  seen,  the  application  has  some  unusual  features  about  it  which need to be particularized.  Thus this judgment is somewhat more extensive than most judgments seeking adjudication.

Formal Requirements

[3]      The Judgment Creditor, Questnet Limited, issued a Bankruptcy Notice out of this Court against Mr Lane on 20 November 2008 for US$888,915.22 plus costs of NZ$7634.00 and required payment of that debt within 21 days with the issue of a Bankruptcy Notice being threatened in default.

[4]      The Bankruptcy Notice was based on a default judgment which was issued out of the High Court of Hong Kong for US$737,600.31 plus interest registered in New Zealand by Questnet on 17 or 24 September 2007.

[5]      The  Bankruptcy  Notice  (and  an  Order  for  Directions  as  to  Service  and Service out of New Zealand dated 20 November 2008) was served on Mr Lane in Hong Kong on 10 December 2008.

[6]      Payment  not  having  been  received,  on  6  April  2009  Questnet  issued  a Bankruptcy  Summons   against   Mr   Lane,   together   with   an   application   for   his adjudication   in   bankruptcy.  That,   together   with   the   required   accompanying document, was served on Mr Lane on 21 May 2009.

[7]           On 13 July 2009 Mr Lane filed a notice of his intention to oppose bankruptcy with  a  full  affidavit  setting  out  the  basis  for  his  opposition.  The  grounds  of opposition  were  that  he  had  been  “held  captive  in  Hong Kong  against  his  will  by way of a prohibition order ... for nearly three years” as a result of Questnet’s actions. Additional grounds were that the Court lacked jurisdiction to enforce judgments of courts  of  countries  outside  the  Commonwealth; that  Questnet  had  issued  other bankruptcy proceedings against him “for the very same default judgment”;  and that Mr  Lane  had  appealed  to  the  courts  of  appeal  in  New  Zealand  and  Hong  Kong against   the   Hong  Kong  default   judgment   and   its   registration   in   this   country respectively.

[8]      On  27  November  2009  Mr  Lane  filed  an  “Appearance”  saying  because  he was “being forcibly held outside New Zealand under a Departure Prohibition Order

at Hong Kong” at the behest of Questnet, he could not appear in person in Auckland.

Further Facts

[9]      In the run up to the fixture for the defended bankruptcy hearing on 19 April

2010, Mr Lane first forwarded a memorandum dated 9 April 2010.   It was sent by email  and  the  signed  original  arrived  on  the  morning  of  the  fixture.   The  heading sought adjournment of the 19 April 2010 fixture “so Creditor can be given time to disclose details as to recent settlement of the debt”.

[10]     In  it,  he  acknowledged  he  knew  of  the  fixture  and  sought  an  adjournment because  it  was  “only  in  March  2010  that  new  developments  arose  revealing  that there is now apparent settlement of the debt”.  This he supported by reference to an affidavit filed in Hong Kong proceedings.

[11]     Further, Mr Lane said that “although it is  likely  that  the  hearing  will  not proceed” at the fixture, he was unable to appear because he has been “called upon and selected to represent New Zealand in professional sports on the European tour”.

He attached a letter from the President of the New Zealand Pool Association saying

it was the “official Sporting Council for New Zealand Pocket Billiards” confirming Mr Lane would be representing New Zealand on the European tour commencing in April 2010.  An attached travel agent’s printout showed Mr Lane was booked to fly Hong Kong-Munich-Trieste on 12-13 April 2010, returning on 21-22 April.

[12]     Mr  Lane  sent  a  submission  by  the  same  means  dated  16  April  2010 suggesting that having regard to the amount of the original claim and that there was “no  [sic]  a  far  less  amount  to  be  paid  ...  if  there  is  any amount  at  all”,  the  act  of bankruptcy set out in the adjudication application no longer existed.   He backed up those documents with emails “from the offices of Rocky Lane, world record holder undefeated”  dated  16  and  18  April  2010  suggesting  it  would  be  “unsafe  to  enter adjudication” because any amount left was “easily affordable”.   He went on to say that “believing adjournment to be a probability given that it is highly likely there is

no longer  any  debt  outstanding,  I  went  about  my  business  which  requires  me  to travel”. He  suggested  that,  at  the  very  least,  he  should  have  an  opportunity  of responding to the latest affidavit sworn by a Ms Campbell, a legal executive in the New  Zealand  firm  acting  for  Questnet,  which  outlined  the  latest  chapters  in  the litigious history between these parties.

Previous Judgments in Questnet v Rinck and Lane

[13]     The foregoing is no more than a skeletal account of the dispute between these parties  and  the  litigation  between  Questnet,  Mr  Lane  and  a  Mr  Rinck.   But  it is a sufficient account for present purposes because    the history has been comprehensively  outlined  on  a  number  of  occasions  by  various  Judges  in  two jurisdictions and a fuller understanding of the background can be taken from two of those judgments.

[14]     The first is the judgment of the Court of Appeal of the Hong Kong Special Administrative  Region  given  on  18  March  2010  (with  reasons  for  the  judgment being issued on 26 March 2010).

[15]     The plaintiff was shown as Questnet with Messrs Rinck and Lane as first and second  defendants  respectively.   Le  Pichon  JA described  the  subject  matter  of  the appeal as follows:

1.   This was an appeal  by the second defendant (who appeared in person) from an order  ...  made  on  17  March  2009  dismissing  the  second defendant’s  application  to  set  aside  the  decision  of  Master  Roy  Yu  of 16 April  2008. Master   Yu  had  dismissed  the  second  defendant’s application  to  set  aside  the  default  judgment entered against him  by Master  de  Souza  on  4  September  2007  in  the  sum  of  US$737,600.31 together with interest and costs.

2.   At the  outset  of  the  hearing,  the  second  defendant  applied  for  an adjournment or, alternatively, that leave be granted for the withdrawal of the  appeal. After  hearing  from  both  parties,  the  application  for  an adjournment/withdrawal was refused and as the second defendant stated that he was in no position to proceed with the appeal, the court had no option but to dismiss the appeal with costs ...

[16]     The judgment continued:

4.    In  outline,  the  facts  are  these. The  underlying  action  concerns  the misappropriation of corporate funds held on express trusts by the first defendant,  a  former  director  and  employee  of  the  plaintiff,  and  the knowing receipt and dishonest onward remittance of about Euro 582,806.44  by  the  second  defendant  who  was  the  plaintiff’s former Chief Legal Officer.

5.    The plaintiff obtained a Mareva injunction and a disclosure order against the first defendant on 21 July 2006.  When the first defendant disclosed by his fourth affirmation filed on 17 August 2006 that the sum

of Euro 582,806.44 had been placed on trust with the second defendant, and that the second defendant had, on his instructions, paid debts owed

to  his creditors,  a  Mareva injunction  was  obtained  against  the  second

defendant the same day.

6.    Chu J found the second defendant guilty of contempt of the injunction

in remitting that sum of Euro 582,806.44 to the first defendant and his wife at the first defendant’s direction when he knew that the injunction prevented him from doing so.  The facts that gave rise to the finding of contempt   also   found   the   second   defendant’s   liability   in   knowing receipt/dishonest assistance.

7.    ...  Various  attempts  to  set  that  aside  in  proceedings  below  proved unsuccessful.

...

11.   By letter of 7 March 2010 to the plaintiff’s solicitors and copied to the court, the second defendant, while acknowledging that he and the first defendant had been held jointly liable to the plaintiff in respect of a debt of about US$700,000, indicated that the debt had since been (or was in the process of being) settled by the first   defendant   following

enforcement proceedings over the first defendant’s Swiss bank account.

The  second  defendant  indicated  his  wish  to  “withdraw”  his  appeal  in those circumstances.  ...

...

14.  As earlier mentioned, at the outset of the hearing, the second defendant applied  for  an adjournment  or,  alternatively,  that leave  be  granted  for the withdrawal of his appeal.   The application was made on the basis that  it  would  be  known  within  a  period  of  approximately  7  weeks whether or not the first defendant’s debt would be fully satisfied and, in that eventuality, the appeal would be rendered unnecessary.

15.  Quite apart from the fact  that the  parties  were  unable  to agree  on the exact amount still outstanding, the plaintiff’s position was that even in the best-case scenario, the proceeds from the Swiss bank account would not  be  sufficient  to  clear  both  capital  and  interest  owed  by  the  first defendant, and thus nothing would be served by an adjournment.

16.  The second defendant then was asked to outline the basis of his appeal

so that  the court could form a view as to whether the appeal had any substance as no written submissions had been filed by him. It transpired  that  the  present  appeal  stands  or  falls  with  his  appeal  in

CACV 206.   The second defendant’s case is that the judge should not have  relied  on  the judgment  of  Chu J  in  the contempt  proceedings  in refusing to set aside the default judgment and the findings therein made because,  it   was  said,   substantial   grounds  exist   for   appealing  that judgment.

...

18.  So far as CACV 206 is concerned, apart from the Notice of Appeal filed on 21 July 2008 and the Notice of Setting down the appeal of 4 August

2008, no further steps have been taken by the second defendant.   That

appeal  (the success of which is critical  to the present appeal) has lain fallow for over 19 months.

19.  Accordingly, it is plain that for over 1½ years, the second defendant has made no effort whatever to progress CACV 206 upon which the present appeal depends.   In my view, against the backdrop of this chronology, the  administration  of  justice  would  not  be  furthered  by  granting  any further indulgence to this litigant.

The other Judges of the Court agreed.

[17]     It is also instructive to  record  passages  from  the  judgment  of  our  Court  of

Appeal in Lane v Questnet Limited[1]delivered on 9 December 2009, that is, before

[1] Lane v Questnet Limited [2009] NZCA 578.

the Hong Kong Court of Appeal judgment to which reference has just been made.  In dismissing Mr Lane’s appeal against Asher J’s refusal to set registration of the Hong Kong judgment aside, the judgment first began:

[1] The  appellant,  Mr Lane,  is  a  resident  of  Hong Kong.  The  respondent, Questnet  Ltd  (Questnet),  runs  its  business  in  Hong  Kong.  Mr Lane  was employed   by   Questnet   to   manage   its   legal   work.   After  retiring  from Questnet, Mr Lane formed a business relationship with Kurt Rinck, a former senior executive of Questnet. That relationship ultimately led to proceedings brought  by  Questnet  in  Hong  Kong  against  both  Mr Lane  and  Mr Rinck claiming they had misappropriated Questnet’s funds. On 4 September 2007, Questnet obtained judgment by default against Mr Lane in the High Court of Hong Kong. This judgment, for US$737,600.31 plus interest and costs, was registered in New Zealand by Questnet on 24 September 2007.

[2]  Mr Lane  applied  to  the  High  Court  in  New  Zealand  to  set  aside registration  of  the  Hong  Kong  judgment.  In  a  judgment  now  reported  as Questnet Ltd v Lane [2008] NZAR 495, Asher J dismissed Mr Lane’s application.

...

[4] The events leading up to the registration of judgment in New Zealand are helpfully set  out  by Asher J  at [2]–[6]  and [11]–[20] and  we  largely adopt that description below.

[5] Mr Lane became Questnet’s chief legal officer in 1999. As Asher J noted

at [2], Mr Lane describes himself as  a professional sportsman but he has a New Zealand law degree and was involved with various legal and consultancy firms  in Asia as a consultant or  legal  executive  from  1989  to

1999.  He  was  promoted  in  September  1999  to  the  position  of  director  for legal  affairs for Questnet. In this capacity, he headed  the  company’s  legal

department  with  about  five  or  six  in-house  counsel  reporting  to  him.  He remained  in  that  position  until  June  2005.  On  leaving  Questnet,  Mr Lane worked as a business consultant for Mr Rinck.

[6]  Questnet  says  that  Mr Rinck wrongly took for  his  own  use  trust funds that belonged to Questnet. Questnet began proceedings against Mr Rinck in 2006 and obtained Mareva orders against him. The Mareva orders required Mr Rinck to file affidavit evidence as to what had happened to the funds he was  alleged  to  have  taken.  In  his  affidavits  responding  to  that  order, Mr Rinck  says  the  funds  in  question  were  deposited  in  bank  accounts belonging  to  Mr Lane  and  thereafter  disbursed  by  Mr Lane  on  Mr Rinck’s instructions.

[7] Asher J sets out at [6] the exact funds transferred by Mr Lane according

to an affidavit sworn by Mr Lane in the Hong Kong High Court as follows:

a)    US$105,000 on or about 27 July 2006, transferred by

Mr Lane to a company in Austria;

b)    US$100,000 on or about 21 August 2006, transferred by

Mr Lane to a company in Austria;

c)    US$535,477.50 on or about 28 August 2006, transferred to

Mr Rinck’s wife’s bank account.

[8] Mr Rinck’s disclosure led to Mr Lane being joined to the proceedings on

23 August  2006.  The  allegation  against  him  was  that  he  had  knowingly received Questnet’s funds.

...

[11]  Mr Lane  did  not  comply  with  a  disclosure  order  which  led  to  him being found guilty of contempt on 15 June 2007.

...

[13] An order was made prohibiting Mr Lane from leaving Hong Kong and

he  continued to  reside there.  He  gave  no  Hong Kong address and told the

Hong   Kong   Court   he   could   not   do   so   because   he   “moved   around periodically”. In his affidavit filed in the New Zealand High Court he said he maintained  close  contact with  his  wife  and  children in  New  Zealand,  they regularly  checked  correspondence  sent  to  his  New  Zealand  address  and would scan and e-mail any material to him on the day it was received.

[14] On 6 August 2007, Questnet obtained a summons from the High Court

of Hong Kong requiring all parties concerned to attend before the Court on

14 August  2007  at  9.30 am  at  a  hearing  on  behalf  of  Questnet  for  an application for default judgment against Mr Lane. The summons was not a new proceeding but an application for default judgment against Mr Lane in the existing proceedings involving both Mr Rinck and Mr Lane.

[15] On 17 August 2007 the High Court of Hong Kong ordered that service on  Mr  Lane  in  respect  of  the  summons  and  the  affidavit  in  support  be substituted by advertising the documents in an English newspaper published and  widely  circulated  in  Hong  Kong  and  by  posting  the  documents  to  his New Zealand family’s address.

[16]  There  was  evidence  before  Asher J  that  the  order  for  substituted service  and  the  summons  were  posted  to  Mr Lane  at  his  New  Zealand address on 22 August 2007 and advertised in The Standard in Hong Kong on 24 August 2007.

[17] There is no evidence as to when the documents arrived in New Zealand

at the stated address. Mr Lane in his affidavit in the application to set aside registration  of  the  judgment  says  that  he  received  scanned  and  emailed copies of some of the documents. He does not say the exact date on which he received them but did say that on 3 September 2007, the day before the date when the summons was to be heard, he wrote a letter which was faxed to the Court.  He  said  that  because  there  was  a  warrant  for  his  arrest  at  large  in relation   to   the   contempt   proceedings   he   decided   not   to   appear   on 4 September   2007   as   this   “would   have   had   detrimental   conclusions regarding my liberty”.

[18] In his letter to the Hong Kong High Court, Mr Lane says that he had just learned of the summons which was served at what he described as “my permanent  address  for  service”.  He  appears  to  assume  that  the  summons relates to a default judgment entered against him with which he has not been served. He sought time “by which to take out summons under r 9, order 13 to set aside this judgment”.

[19] When the matter came before Master De Souza in the High Court of Hong Kong on 4 September 2007 judgment by default was entered against Mr Lane for the full amount sought. It is plain on the evidence that Master De Souza had Mr Lane’s letter of 3 September before him.

[20]  The Hong Kong judgment was  registered   in   New   Zealand   on

24 September 2007. The application to set aside was made on 21 November

2007.

[21]  On 18 December 2007, Mr Lane applied  to  set  aside  the  default judgment in Hong Kong. His application for an interim stay of enforcement

of the judgment pending his application to set aside was dismissed by Master

Hui  on  28 December  2007.  A  further  application  for  an  interim  stay  was dismissed by Sakhani J on 18 January 2008. The application to set aside the default  judgment  was  dismissed  on  16 April  2008.  An  appeal  against  that decision was filed with the Hong Kong Court of Appeal in April 2008 and is due  to  be  heard  in  March  2010.  A  further  application  for  stay  (pending appeal) was dismissed by the High Court of Hong Kong on 5 October 2009.

[22]  Mr Lane’s defence to the Questnet proceedings is that he acted on instructions from Mr Rinck and was misled  by  him  as  to  the  origin  and

nature  of  the  funds  placed  with  him.  Mr Lane  says  that  Mr Rinck  was  his employer and he did not know that the funds were subject to a Mareva order.

[18]     The Court of Appeal then carefully considered each of the three grounds of appeal, namely lack of sufficient  notice  of  the  registration  proceedings; that enforcement was inconsistent with public policy; and reliance on the pending appeal

in Hong Kong.  Each of those grounds was rejected and the appeal was dismissed.

[19]     It remains to add two things:

a)        The Hong Kong prohibition order against Mr Lane was discharged on

29  December  2009. He has accordingly  been  free  to  leave  Hong

Kong since then.

b)Ms Campbell’s affidavit details efforts to recover the judgment debt against Mr  Rinck by reference to an affidavit (her  36th)  filed  in  the Hong Kong proceedings by Ms Li. From the total judgment exclusive

of costs and  interest  against both defendants  for  HK$20,692,329.26, Questnet has recovered some HK$8,840,584.28 and is in the process

of endeavouring to recover a further sum of approximately CHF$1,590,369.40. If  successful,  Mr  Rinck  will  still owe  Questnet more  than  HK$100,000  plus  costs  and  interest,  but  if  the  Swiss recovery  action  is  unsuccessful  the  amount  of  the  judgment  debt against Mr Rinck will be about CHF$11,658,112.98.

c)        An earlier affidavit in those proceeding from Ms Campbell exhibited the  Melaaron  Family Trust  deed  of  which  Mr  Lane  was  the  settlor. On 31 March 2007 the Trust owned a number of properties but was apparently heavily mortgaged. But, at least at that date, Mr Lane was a beneficiary who was owed a moderately significant sum of money by the Trust.

Submissions

[20]     Mr  Hucker  initially  made  the  point  that  there  were  no  further  available challenges to the judgment underlying the application   for adjudication, particularly with the dismissal of the two  appeals  earlier  discussed  (and  the  lack  of  any application for leave to appeal to the New Zealand Supreme Court).

[21]     He  made  the  point  that  the  outstanding  costs  in  this  country  themselves would  themselves  qualify  for  an  order  for  adjudication,  though  conceding  that further proceedings or an amendment to the current proceedings would be required for Questnet to be able to rely on that debt.

[22]     He  therefore  submitted  that  the  formal  requirements  for  adjudication  had been made out and the petitioning creditor was  accordingly prime facie entitled to adjudication (Re Twidle;[2]  Re Fidow (A Debtor)[3]).

[2] Re Twidle [1960] NZLR 748;

[3] Re Fidow (A Debtor) [1989] 2 NZLR 431.

[23]     Mr  Hucker  submitted  there  were  no  discretionary  factors  which  should  be held  to  bar  adjudication  under  s  37  of  the  Insolvency  Act  2006  when  the  criteria discussed by Associate Judge Faire in Child v Diners Club (NZ) Ltd[4]  were taken into account.   Mr Lane could not satisfy the Court it was not just to make an order for adjudication. Any  suggestion  an  order  would  be  pointless  for  lack  of  assets  was gainsayed  by  the  Melaaron  Family  Trust  evidence  earlier  discussed. It  is  a  New Zealand entity and Mr Lane, though he apparently spends little time in New Zealand nowadays, is a New Zealand citizen.

[4] Child v Diners Club (NZ) Ltd HC Auckland CIV-2008-404-4623, 11 December 2009.

[24]     Mr  Hucker  submitted  Mr  Lane’s  notice  of  intention  to  oppose  adjudication was no more than a collateral attack on the Hong Kong judgment and its registration in  this  country  neither  of  which  should  be  accorded  any  weight  in  light  of  the appellate judgments.

[25]     He stressed that  although  Questnet  had  been  successful  in  effecting certain recoveries from Mr Rinck’s assets in the Hong Kong proceedings, the judgment was

by no means  satisfied  and  Mr  Lane  had  paid  nothing  on  account. In any event,

Mr Hucker submitted, where a judgment creditor has a judgment against a number of

debtors, it is entitled to select those against whom it takes enforcement  action and select between the assets available.

[26]     Mr Lane’s submissions were earlier summarized.

Discussion and Decision

[27]     The formal prerequisites to an adjudication of Mr Lane in bankruptcy were made out at the fixture on 19 April 2010.  The proceedings were then adjourned part- heard  to  21  April  2010  for  presentation  of  the  required  certificate  as  to  the  debt currently owed, and delivery of judgment.

[28]     There  is  a  judgment  against  Mr  Lane  (and  Mr  Rinck)  in  the  Hong  Kong proceedings which remains in force despite his efforts and as a result of his appeal. The  judgment  has  been  validly  registered  in  New  Zealand. His  attempt  to  have registration set aside has been unsuccessful both in this Court and on appeal.  While Questnet has been successful in obtaining payment of some of the money due to it under the judgment from Mr Rinck’s assets, the judgment is by no means satisfied and a substantial sum remains owing by both judgment debtors.  Formally, therefore, Questnet is entitled to an order for Mr Lane’s adjudication in bankruptcy.

[29]     Over the history of this litigation, Mr Lane has raised every obstacle possible

to Questnet’s attempts to enforce its judgment in its litigation against him.  As at the present, all those effort have been unsuccessful (with the exception of the dismissal

of another creditor’s petition  by  Questnet  concerning  another  debt).[5] The  only

[5] Lane v Questnet Limited H C Auckland CIV-2007-404-6164 5 November 2008, Asher J

remaining  grounds  on  which  Mr  Lane  seeks  adjournment  –  not  dismissal  of  the adjudication  proceeding  -  is  that  he  was  unable  to  be  present  at  the  hearing  and believes the judgment debt has or will be satisfied.

[30]     There is no basis to take the view Mr Lane was unable to be present at the

19 April hearing. The  prohibition  order  preventing  him  leaving  Hong  Kong  was dissolved on 29 December 2009. Indeed, it appears he was absent from Hong Kong

at the time of the hearing, but  he  chose  to  absent  himself  from  the  hearing  by

travelling  to  Europe  to  pursue  his  sporting  interests  rather  than  travel  to  New Zealand to   meet – if he could – Questnet’s allegations against him.   That was his choice, and the adjudication application is to be determined with Mr Lane’s choice in mind.

[31]     No doubt Mr Lane would claim that he thought the adjudication proceeding against him would be adjourned because of  the contents of  Ms  Campbell’s  latest affidavit and the exhibits she put before the Court. In effect, he would have claimed

he thought the debt had been or would be satisfied and assumed adjournment of the adjudication proceedings would follow, that being drawn to the Court’s attention.

[32]     There are several responses to this.

[33]     In  the first place, Mr Lane  puts  forward  no  basis  on  which  he could  have reached a justifiable belief that  the  debt  was  or  would shortly be satisfied. His knowledge of Questnet’s recovery proceedings could only have come from documents served on him, and they plainly showed any recovery would not amount

to  complete  payment  and  a  substantial  sum  of  money  would  remain  owing  to Questnet by the judgment debtors.   Even a lay person would have understood both that  and  the  fallacious  basis  for  any  assumption  that  this  proceeding  would  be adjourned.  That would have been much more apparent to a qualified lawyer.  There was  simply  no  justification  for  any  assumption  that  these  proceedings  would  be adjourned from 19 April 2010.

[34]     Secondly, it is plain that at the date of the fixture the judgment debt would not be fully repaid, even though further recoveries may be made in the future.  There was  thus  more  than  a  qualifying  amount  for  adjudication  owing  by  the jugment debtors  at  the  date  of  this  fixture. There  can  have  been  no  basis  for  Mr  Lane  to believe  otherwise. In the unlikely event that full  recovery  is  made in  the  future, Mr Lane would be entitled to annulment of his adjudication.

[35]     Thirdly, and of pivotal importance, Mr Lane has had every opportunity over a lengthy period to meet the substantial judgment against him (and Mr Rinck). He has paid nothing. The certificate produced by Mr Hucker shows the default judgment

plus   interest   (totalling   US$888,915.22)   plus   costs   ($7360)   remains   unpaid. Mr Lane’s adjudication in bankruptcy should accordingly follow.

[36]     In all those circumstances, the Court concludes that there is no basis at law or

in fact not to make an order for Mr Lane’s adjudication in bankruptcy and there will

be an order accordingly on 21 April 2010 timed at 9:12am.

[37]     The judgment creditor is entitled to costs on a 2B basis plus disbursements.

.................................................................

HUGH WILLIAMS J.

Solicitors:

Hucker & Associates (R B Hucker), P O Box 3843 Shortland Street Auckland 1140.

Copy for:

W R Lane, Suite 907, Silvercord, Tower Two, 30 Canton Road, Kowloon, Hong Kong.

Case Officer:               Clar[email protected]


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