The Commissioner of Inland Revenue v Spencer HC Wellington CIV 2006-485-2690

[2008] NZHC 2491

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

CIV 2006-485-2690

IN THE MATTER OF     the Insolvency Act 1967

ANDIN THE MATTER OF  the bankruptcy of KERRY WAYNE SPENCER

BETWEEN  THE COMMISSIONER OF INLAND REVENUE

Judgment Creditor

ANDKERRY WAYNE SPENCER Judgment Debtor

Hearing:         11 August 2008

Appearances: A. Davie - Applicant

P.H.B. Latimer - Counsel for Commissioner of Inland Revenue

Judgment:      11 August 2008

ORAL JUDGMENT OF ASSOCIATE JUDGE D.I. GENDALL

Solicitors:           PHB Latimer, IRD, Legal & Technical Services, PO Box 1462, Wellington

Treadwells, Solicitors, PO Box 859, Wellington

THE COMMISSIONER OF INLAND REVENUE V KERRY WAYNE SPENCER HC WN CIV 2006-485-

2690  11 August 2008

[1]      The applicant was adjudicated bankrupt on the petition of the Commissioner of Inland Revenue at the Wellington High Court on 15 May 2007.

[2]      The applicant now applies for an annulment of this adjudication pursuant to s.

119 Insolvency Act 1967.

[3]      On 6 August 2008 the Official Assignee filed his report in terms of s. 119

Insolvency Act 1967.  The report indicates that all creditor’s claims have been paid in full and notes that the Official Assignee has no objection to the annulment of the bankruptcy being granted.   The Official Assignee apparently also has additional funds which it holds to meet its costs and disbursements.

[4]      In this report the Official Assignee notes that sufficient funds were recovered from various sources by the applicant  in  the bankruptcy administration  to  fully satisfy all known creditors.

[5]      No creditor has filed an objection to the application for annulment, indeed, as

I have noted all creditors have been paid in full.

[6]      Under these circumstances I am satisfied in terms of s. 119(1)(b) Insolvency Act 1967 or if it is appropriate in terms of s. 309(1)(b) Insolvency Act 2006 that as the debts of the applicant have been fully paid and satisfied an annulment can be granted – Re Hansen a bankrupt [1971] NZLR 927.

[7]      Orders are now made therefore that the order of adjudication in bankruptcy of the applicant dated 15 May 2007 is annulled.

[8]      If costs are in issue then costs are awarded to the Official Assignee with respect to this matter on a Category 2B basis.  So far as it may be applicable this order is timed at 10.05 am today, 11 August 2008.

‘Associate Judge D.I. Gendall’