Re Taylor is a leading New Zealand case on when the High Court will exercise its discretion and refuse to adjudicate a debtor bankrupt.

Sensitive readers liable to be easily disturbed should look the other way when I recite that the company went by the awful name of "Bath and Dunny Shop Limited".

In Mr Taylor’s case I believe that the collapse of his business can be directly traced to the political and economic developments which took place at the time.

Moreover it is difficult to perceive any public interest element which would be served by making Mr Taylor bankrupt.

To make Mr Taylor bankrupt would be purely punitive and serve no practical or useful purpose.