29 May 2023
TAHAROTO MOTELS LTD v RITZ ENTERPRISES LTD (in liq) [2023] NZHC 1290
- Citation
- [2023] NZHC 1290
- Court
- High Court
The liquidation order was recalled because the Court was inadvertently misled at the hearing by a solicitor's certificate that the statutory demand debt remained unpaid when in fact it had been paid prior to the hearing; that payment rebutted the statutory presumption of insolvency, the company would suffer significant prejudice if the liquidation continued, and recall and discharge of the liquidators was therefore appropriate with specified cost directions.