With
Sushil Kumar Sharma’s meat supply company forced into liquidation by Inland
Revenue for unpaid taxes and Mr Sharma now bankrupt personally, the Official
Assignee took pre-emptive action against his family to freeze assets suspected
of being hidden from creditors.
The Official Assignee alleges Mr Sharma
unloaded personal assets prior to bankruptcy including $150,000 in gold bars,
two motor vehicles and a property at Richardson Road in the Auckland suburb of
Mt Roskill. There was evidence of these
assets being transferred in suspicious circustances to his wife Paula Sharma
and to trustees of a family trust. The
Official Assignee told the High Court these asset transfers would be challenged
as gifts made whilst insolvent. A
freezing order was imposed to prevent Mrs Sharma and the family trust disposing
of all assets they currently hold.
Official
Assignee v. Sharma & Family Trustee Ltd – High Court (10.08.16)
16.124