TEMPEST LITIGATION FUNDERS LTD v BF7 HOLDINGS LTD trading as FILLED ROLES [2020] NZHC 2320

TEMPEST LITIGATION FUNDERS LTD v BF7 HOLDINGS LTD trading as FILLED ROLES [2020] NZHC 2320

The recall application was dismissed because no very special reason existed to recall the liquidation order; however, by consent the applicant was joined as an additional defendant under r4.56 to enable an appeal; the application for stay was withdrawn (and would have been dismissed given prejudice to other...

Source-derived case information.

Citation
[2020] NZHC 2320
Parties
Plaintiff/respondent: Tempest Litigation Funders Limited; Defendant/applicant: BF7 Holdings Limited trading as FILLED ROLES
Court
High Court
Jurisdiction
New Zealand
Judgment Date
7 September 2020
Procedural Posture
Companies Act 1993 Liquidation Proceedings / Application to Recall Liquidation Order, Joinder of Party, and Stay Pending Appeal
Outcome
Application to recall dismissed; applicant joined as additional defendant by consent; application for stay withdrawn; costs awarded to respondent.
Legal Topics
Liquidation, Statutory Demand, Recall of Judgment, Joinder of Parties, Stay of Proceedings, Costs
Company Law Insolvency Civil Procedure Liquidation Statutory Demand Recall of Judgment Joinder of Parties Stay of Proceedings +1 more

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Parties

Tempest Litigation Funders Limited

Plaintiff/respondent

BF7 Holdings Limited trading as FILLED ROLES

Defendant/applicant

Procedural Posture

Companies Act 1993 Liquidation Proceedings / Application to Recall Liquidation Order, Joinder of Party, and Stay Pending Appeal

Legal Issues

  1. 1 Whether the liquidation order should be recalled
  2. 2 Whether the applicant should be joined as a party to enable appeal
  3. 3 Whether the liquidation should be stayed pending appeal

Ratio Decidendi

The recall application was dismissed because no very special reason existed to recall the liquidation order; however, by consent the applicant was joined as an additional defendant under r4.56 to enable an appeal; the application for stay was withdrawn (and would have been dismissed given prejudice to other creditors and lack of candour); costs awarded to Tempest on a reduced 2B basis plus disbursements.

Court Disposition

Application to recall dismissed; applicant joined as additional defendant by consent; application for stay withdrawn; costs awarded to respondent.

Orders

  • Application to recall the judgment dismissed.
  • Spencer Bishop is joined as an additional defendant under High Court Rules r4.56.