25/09/2025
Mr Nick Coyle
[FYI request #32237 email];
Thank you for your email dated 05 September 2025 to the Ministry of Business, Innovation
and Employment (MBIE) requesting the following information under the Official Information
Act 1982.
While we wil do our best to respond to your questions, some of the information you have
requested is not readily available to the Insolvency and Trustee Service (ITS) or is not
recorded in a way that allows us to easily access it. As a result, we are unable to provide
answers to certain questions without undertaking substantial collation or research.
1)
The number of bankrupt estates administered in which the bankrupt was a joint owner of real
property.
2) The average length of time between the date of adjudication of bankruptcy and the date of sale of
such jointly owned property.
3) The number of instances where jointly owned property has been sold by way of auction.
4) The number of instances in which the Official Assignee has applied to the Court for an order that
jointly owned property be sold.
5) The average length of time between the date of adjudication of bankruptcy and the date on which
the Official Assignee applied to the Court for such a sale order.
Unfortunately, it is not possible to answer the questions above, the information cannot be
readily extracted from our database
without substantial collation and research
6) Whether the Official Assignee has any policy, practice, or guideline relating to:
a. seeking agreement from a joint owner of property that the property wil be sold by way of no
reserve auction if it has not sold after a specific period of time being marketed;
b. charging rent to any occupier of jointly owned property vested in the Official Assignee; or
c. seeking an adjustment or allowance where the non-bankrupt co-owner has occupied the property
prior to sale.
Please find attached the ITS letter issued to non-bankrupt parties who jointly own a property
affected by another individual's bankruptcy. While the Official Assignee does not typically
charge rent to occupants of such properties, they are still responsible for ongoing mortgage
payments, insurance, and rates. No adjustment is made for any period the non-bankrupt party
occupies the property prior to its sale.
7) Copies of any policies, practice notes, or internal guidelines that set expected timeframes for:
a. commencing marketing of jointly owned property;
b. the maximum reasonable period property may be marketed before seeking a court order for sale;
c. taking into account the interests of creditors of the bankrupt in sel ing jointly owned property.
There is no fixed timeframe for commencing the marketing of a jointly owned property. Each
case is assessed on its individual merits in consultation with the joint owner. Please find
attached the ITS best practice module relating to real property
8) Instructions to agents and valuers
a. Information about the OA’s standard procedures for appointing real estate agents, obtaining
valuations, and setting reserve prices for jointly owned property.
b. Copies of any template instructions or policies used when engaging agents or valuers.
There are no standard letters for engaging real estate agents or valuers, as correspondence is
tailored to the specific circumstances of each case.
You have the right under s 28(3) of the Official Information Act to make a complaint to the
Ombudsman. The contact details of the Office of the Ombudsman are as follows:
The Ombudsman
P O Box 10 152
Wellington 6143
Phone: 0800 802 602
Em
ail: [email address]
Online:
https://www.ombudsman.parliament.nz/
Yours faithfully
Joanne McCarthy
DEPUTY ASSIGNEE
PRINCIPAL ADVISOR
Insolvency and Trustee Service
Ministry of Business, Innovation & Employment
Freephone: 0508 467 658
Save time, do it online
| www.insolvency.govt.nz
NZBN 9429000106078
