19 Jul 2012
239 QUEEN STREET DEVELOPMENTS LIMITED V WATTS & HUGHES CONSTRUCTION LIMITED HC AK CIV-2012-404-2159
- Citation
- openlaw-a4820717_cfb9_4c83_830f_f90bcfd9fae3.pdf
- Court
- High Court
The Court declined to make an immediate liquidation order under s 291(1)(b) because the pay-now/argue-later policy of the Construction Contracts Act did not justify bypassing liquidation procedures where potential insolvency set-offs under s 310 could alter net liability and there was not clear evidence the company was plainly insolvent; accordingly the Court ordered payment under s 291(1)(a) and dismissed the set-aside application.