RICHMOND BROOK STATION LIMITED V FAST FORWARD TVR LIMITED HC CHCH CIV 2007 409 --1053

RICHMOND BROOK STATION LIMITED V FAST FORWARD TVR LIMITED HC CHCH CIV 2007 409 -- 1053 30 July 2007IN THE HIGH COURT OF NEW ZEALAND CHRISTCHURCH REGISTRY CIV 2007 409 --1053BETWEEN RICHMOND BROOK STATION LIMITED Plaintiff AND FAST FORWARD TVR LIMITED Defendant Hearing: 30 July 2007 Appearances: P J Radich for Plaintiff A B Lysaght for Defendant Judgment: 30 July 2007JUDGMENT OF ASSOCIATE JUDGE CHRISTIANSEN[1] The plaintiff's winding up application follows service on 10 March 2007 of a statutory demand. This statutory demand was unmet, the liquidation proceedings were filed. [2] Two other parties have filed notices of appearance. [3] The papers reveal: (a) There is no dispute regarding the amount of the debt. (b) The defendant has no immediate present ability to make payment of the debt.[4] When the matter was called before me today the issue devolved to one of an application by the defendant for an adjournment of a week so that finance could be arranged to pay the plaintiff's debt. [5] Initially I indicated to counsel that I could see no proper reason for refusing the plaintiff's request for an order for liquidation. Later, after a brief adjournment, I inquired of counsel for the plaintiff and for the creditors in support whether there would be agreement for my disposing of the proceeding by the making of an immediate order for liquidation but which order was to lie in Court for about a week, at the end of which time the order would take effect unless the plaintiff's debt, together with costs on a Category 2B basis and disbursements as fixed by the Registrar, were already paid. [6] Counsel for the plaintiff and for creditors in support were both in agreement with this process of dealing with the matter. The defendant's counsel also agreed it should be dealt with in that way. [7] Accordingly, there is an order for liquidation of Fast Forward TVR Limited. Mr M G Hollis and Mr J H R Fisk are appointed liquidators. Costs will be awarded against the defendant on a Category 2B basis, together with disbursements as fixed by Registrar. The time of the order is 11.30am 30 July 2007. [8] The order is to lie in Court until 10.30am 6 August 2007. At that time the matter will only be called if the Court receives advice the plaintiff's debt and the cost orders have been met. [9] The order for liquidation is also made on the condition that any funds held in the trust account of Metropolitan Advances Limited, or with Nigel Lundy accountancy, on behalf of Fast Forward TVR Limited, or its principal, Darryl Winiata, shall remain undisbursed unless the plaintiff's debt and costs have sooner been paid.[10] Ms Radich's attendance on 6 August 2007 is excused. ____________________________ Solicitors Radich Dwyer, Christchurch for Plaintiff Duncan Cotterill, Christchurch for Defendant Ms P. Robertson, Christchurch for Creditors in Support