Trustees Executors Ltd v Official Assignee - [2015] 3 NZLR 224

Bankruptcy and insolvency — Official Assignee — Interpretation of statutes when read together — Whether bankrupt KiwiSaver member’s interest could vest in Official Assignee — Whether early withdrawal of member’s interest permitted — Whether obligations owed by bankrupt to creditors a minimum living expense — Whether workable and effective outcome achieved — “Significant financial hardship” — “Minimum living expenses” — KiwiSaver Act 2006, ss 3, 127 and sch 1, cls 10 and 11.

Statutes — Interpretation — Interpretation of statutes when read together — Whether bankrupt KiwiSaver member’s interest could vest in Official Assignee — Whether early withdrawal of member’s interest permitted — Whether obligations owed by bankrupt to creditors a minimum living expense — Whether workable and effective outcome achieved — “Significant financial hardship” — “Minimum living expenses” — KiwiSaver Act 2006, ss 3, 127 and sch 1, cls 10 and 11.

Superannuation scheme — KiwiSaver — Whether bankrupt KiwiSaver member’s interest could vest in Official Assignee — Whether early withdrawal of member’s interest permitted — Whether obligations owed by bankrupt to creditors a minimum living expense — Whether workable and effective outcome achieved — “Significant financial hardship” — “Minimum living expenses” — KiwiSaver Act 2006, ss 3, 127 and sch 1, cls 10 and 11.