May Wang is fighting to have her bankruptcy suspended while she while she gears up for the bigger fight -- to have it revoked. Ms Wang, the front person for Natural Dairy's bid for the Crafar family farms, was declared bankrupt at the High Court in A
May Wang is fighting to have her bankruptcy suspended while she while she gears up for the bigger fight -- to have it revoked.
Ms Wang, the front person for Natural Dairy’s bid for the Crafar family farms, was declared bankrupt at the High Court in Auckland last week.
The court also turned down her proposal to repay 6c in the dollar to creditors who were owed $22 million following the collapse of her hotel and property business Dynasty Group.
Back in court today, Ms Wang’s lawyer Paul Sills said appeals were lodged last week with the Court of Appeal against both High Court decisions.
He was seeking to have the bankruptcy suspended, which would put it on hold until the Court of Appeal had decided on her appeals.
Ms Wang’s application is opposed by the Commissioner for Inland Revenue, Westpac, the Latitude group and the Official Assignee.
Westpac is owed $620,342 while the IRD is owed a further $1.3 million following the collapse of property development company Dynasty Group.
All affidavits and submissions on the suspension bid will be filed by the end of the week.
Court time for the hearing has not yet been set down, but Justice Patrick Keane said it would be sought for before the end of the year.
