Bankruptcy

The Chancery Division allowed a debtor’s appeal against a bankruptcy order. The court concluded that the registrar had not taken the correct approach to the petition as a matter of law. He had focused on whether the court could be satisfied that the petitioner had an ulterior objective in presenting the petition and had omitted a critical stage in the exercise of his discretion of addressing the interests of the class and weighing the views of the creditors who supported and opposed the making of the bankruptcy order.