New Zealand Legislation: Acts

28 Unsatisfied judgment for non-payment of trust money

• A debtor commits an act of bankruptcy if—

  • (a) the debtor is required by law to keep a trust account; and

  • (b) judgment has been given against the debtor for nonpayment of trust money; and

  • (c) the judgment is not satisfied within 5 working days after the date of the judgment.

  Compare: 1967 No 54 s 19(1)(k)