PARK ESTATE LIMITED V M R PRINT GROUP LIMITED HC NAP CIV-2009-441-766

PARK ESTATE LIMITED V M R PRINT GROUP LIMITED HC NAP CIV-2009-441-766

Because Park Estate provided payment of the statutory demand amount by bank cheque and agreed to pay the remaining shortfall by a specified deadline, the Court granted leave to withdraw the liquidation application conditional on immediate provision of the cheque and payment of $861.67 by 5:00 pm; the Court ordered payment of the balance, awarded Category 2B costs and allowed substitution of Millar Road Limited as plaintiff, while reserving certain supporting creditors' costs and adjourning the liquidation call.

Citation
openlaw-3010540f_d11b_4514_8aa4_bbc17790ade7.pdf
Parties
Applicant / Defendant: Park Estate Limited; Respondent / Plaintiff: M R Print Group Limited; Creditor in Support / Substituted Plaintiff: Millar Road Limited; Creditor in Support: Whakatu Coolstores Limited; Creditor in Support: Endeavour Glass Packaging Ltd; Creditor in Support: Valman Contractors Ltd; Creditor in Support: Beachview Products Ltd
Court
High Court
Jurisdiction
New Zealand
Judgment Date
19 March 2010
Procedural Posture
Statutory Demand and Liquidation Proceedings Under the Companies Act 1993 / Hearing on Application to Set Aside Statutory Demand and to Wind Up; Liquidation Call Adjourned to 10:00 Am 6 May 2010
Outcome
Liquidation application withdrawn on the basis of immediate payment of the statutory demand amount and conditional payment of the outstanding costs; liquidation call adjourned to 6 May 2010; substitution of plaintiff approved.
Legal Topics
Statutory Demand, Liquidation, Set Aside, Costs, Substitution of Plaintiff
Companies Law Insolvency Civil Procedure Statutory Demand Liquidation Set Aside Costs Substitution of Plaintiff

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Parties

Park Estate Limited

Applicant / Defendant

M R Print Group Limited

Respondent / Plaintiff

Millar Road Limited

Creditor in Support / Substituted Plaintiff

Whakatu Coolstores Limited

Creditor in Support

Endeavour Glass Packaging Ltd

Creditor in Support

Valman Contractors Ltd

Creditor in Support

Beachview Products Ltd

Creditor in Support

Procedural Posture

Statutory Demand and Liquidation Proceedings Under the Companies Act 1993 / Hearing on Application to Set Aside Statutory Demand and to Wind Up; Liquidation Call Adjourned to 10:00 Am 6 May 2010

Legal Issues

  1. 1 Whether the statutory demand should be set aside
  2. 2 Whether Park Estate Limited should be placed into liquidation
  3. 3 Whether payment of the demand and costs disposes of the liquidation application

Ratio Decidendi

Because Park Estate provided payment of the statutory demand amount by bank cheque and agreed to pay the remaining shortfall by a specified deadline, the Court granted leave to withdraw the liquidation application conditional on immediate provision of the cheque and payment of $861.67 by 5:00 pm; the Court ordered payment of the balance, awarded Category 2B costs and allowed substitution of Millar Road Limited as plaintiff, while reserving certain supporting creditors' costs and adjourning the liquidation call.

Court Disposition

Liquidation application withdrawn on the basis of immediate payment of the statutory demand amount and conditional payment of the outstanding costs; liquidation call adjourned to 6 May 2010; substitution of plaintiff approved.

Orders

  • Leave to withdraw the liquidation application granted on the basis that a bank cheque for $12,179.00 is provided to M R Print Group Limited immediately.
  • Park Estate Limited to pay balance costs and disbursements of $861.67 in cleared funds by 5:00 pm on 19 March 2010.