21 Sept 2012
THE COMMISSIONER OF INLAND REVENUE V CHIPMUNKS MANUKAU LIMITED HC AK CIV-2012-404-48
- Citation
- openlaw-3dfc29c5_240e_4e66_84ae_262661269463.pdf
- Court
- High Court
The court granted a limited adjournment because the risk of immediate loss of business value and consequent severe personal exposure to third parties justified short, strictly conditioned delay; the adjournment was limited and tightly conditioned to protect creditors and preserve the liquidator's potential recovery rights and to allow verified steps toward payment or sale; failure to comply or failure to make progress would result in appointment of a liquidator.