New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Appointment of receiver and manager

Legal area

Court

17 Aug 2022

SCUTTER v ARCHITECTURAL WINDOW SOLUTIONS LIMITED (IN LIQUIDATION) [2022] NZHC 2046

Citation

[2022] NZHC 2046
Court

High Court

Given the liquidator's familiarity with the company and unanimous support of retention creditors, the Court exercised its inherent power to appoint the liquidator as receiver and manager of the Retention Fund; the Fund is held on trust under ss 18A–18I of the Construction Contracts Act 2002; the appointed receiver may determine and pay valid claims, distribute funds pro rata with interest deferred until non-interest claims are paid, make any surplus available to company creditors under the Companies Act, and deduct reasonable management and application costs from the Retention Fund subject to…
17 Aug 2021

CAIN v RILEAN CONSTRUCTION (CENTRAL OTAGO) LTD (in liq) [2021] NZHC 2153

Citation

[2021] NZHC 2153
Court

High Court

The Court appointed the liquidator (applicant) as court receiver and manager to administer the retention fund held on trust under ss 18A–18I of the Construction Contracts Act 2002, authorised pro rata distribution of the fund to entitled subcontractors (with interim distributions permitted), declined to pay interest until all valid non-interest claims are paid in full, and authorised deduction of the receiver's costs from the fund up to $25,000 without further court approval.