Fish Man Ltd (in liq) v Hadfield - [2018] 2 NZLR 428

Bankruptcy and insolvency — Rights of creditors — Whether one unsecured creditor (of several creditors) could benefit from subsequent increase in value through vesting order — Relationship property — Whether vesting order for part interest in disclaimed property possible under Property (Relationships) Act 1976 — Insolvency Act 2006, ss 101, 104, 117, 118, 119, 290 and 304.

Company law — Liquidation — Disclaimer of onerous property — Whether loss or damage was direct result of disclaimer — Whether disclaimer could be revoked years later following property’s increase in value — Whether vesting order could be made where loss or damage arose from increase in value of asset — Insolvency Act 2006, ss 101, 104, 117, 118, 119, 290 and 304.

Equity — Remedies — Whether creditor could assert proprietary interest in property — Whether tracing could go to discharge of debt into asset purchased prior to liquidation — Whether proprietary interest in property by way of subrogation.