12 Feb 2021
PROTEA GROUP MANAGEMENT SERVICES LLC v PACIFIC AEROSPACE LTD [2021] NZHC 158
- Citation
- [2021] NZHC 158
- Court
- High Court
The s 246 statutory test was satisfied: a valid winding-up application existed, the application was likely to succeed because PAL was insolvent and unable to pay debts, and urgent necessity to preserve the company's principal assets and CAA certification justified appointment of interim liquidators to maintain value and protect creditors; accordingly interim liquidators were appointed.