New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Companies act 1993 s250

Legal area

Court

4 Oct 2011

HAYS SPECIALIST RECRUITMENT (AUSTRALIA) PTY LIMITED V ADM CANTERBURY LIMITED HC CHCH CIV 2010-409-002912

Citation

openlaw-7ba9e77e_ca36_4979_988e_2cb885df5660.pdf
Court

High Court

The Court concluded it was just and equitable to terminate the liquidation because the applicant provided sufficient funds to pay all creditors in full and to cover liquidator's costs, the liquidators filed the required report and consented, and the sole shareholder (applicant) would not be disadvantaged; accordingly termination under s250(1) was ordered.
16 Jul 2010

VICTOR SERVICE LTD V WISE COACH LTD HC AK CIV 2010-404-001200

Citation

openlaw-3ab909c9_61d4_450d_a27a_151a8421aa0f.pdf
Court

High Court

Termination of the liquidation was justified only if creditors and liquidator's costs are paid or secured and shareholders consent; accordingly the court granted a conditional order terminating the liquidation effective upon the Registrar receiving a certificate from the Official Assignee confirming payment of the specified debts and costs and ordered the disputed debt sum to be held by the Registrar pending resolution.