New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Costs as liquidation expense

Legal area

Court

28 May 2019

SOMERVILLE AND HOLLIS [2019] NZHC 1189

Citation

[2019] NZHC 1189
Court

High Court

The Court granted leave for the applicants to act as liquidators because the prima facie disqualification under s280 did not present a real risk to their independence: PwC's relationships arose from services to secured creditors not the company, the applicants were not involved in those services, firm segregation would prevent interference, and procedural fairness was preserved by serving creditors after appointment with leave to apply to set aside.
12 Sept 2018

R v PAREKH [2018] NZHC 2407

Citation

[2018] NZHC 2407
Court

High Court

The Court held the matter was properly commenced by originating application and, exercising its power under s 280, granted Messrs Jackson and Graham leave to act as liquidators of Forestlands N.Z. Limited, subject to service on known creditors and a 10 working day period in which creditors (including Leaders) may apply to set aside the appointment; the applicants' solicitor/client costs of the application are to be an expense of the liquidation limited to those which are actual and reasonable.