Court of Appeal: Bankrupts' KiwiSaver off limits for creditors, Official Assignee

Tue, 21 Apr 2015

By Suze Metherell April 21 (BusinessDesk) - A bankrupt's KiwiSaver account cannot be accessed by the Official Assignee, despite financial hardship being a reason for individuals to access KiwiSaver funds early, the Court of Appeal has ruled. Last week, the Court of Appeal declared a bankrupt's KiwiSaver funds cannot be withdrawn by the Assignee, which oversees New Zealand bankruptcies, to pay creditors as it goes against the intention of the KiwiSaver Act 2006, according to the April 17 judgement of Justice Tony Randerson, Justice Rhys H...

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