Re Fidow (a debtor) - [1989] 2 NZLR 431

Bankruptcy and insolvency — Bankruptcy petition — Stay of petition — Debtor sought a stay in adjudication on creditors' petition, seeking delay to enable orderly realisation of properties — Petition was founded on unsatisfied judgment, against which appeal had been lodged — Debtor was clearly insolvent, with interest on his debts making his position deteriorate — Whether, when prima facie grounds for adjudication were established, Court had a discretion to order a stay — Whether interests of creditors warranted stay — Whether delay in pursuing appeal against judgment warranted a stay — Whether adjudication would be pointless — Whether a stay should be granted — Insolvency Act 1967, ss 19, 20, 23, 26 and 143.