10 Sept 2021
SHEARING SERVICES KAMUPENE LTD (IN LIQUIDATION) v TARAHAU FARMING LTD [2021] NZHC 2376
- Citation
- [2021] NZHC 2376
- Court
- High Court
The Court found procedural and substantive defects in the purported administration (no proper written board resolution by requisite quorum and an unlicensed administrator) but held those defects were either formal/remediable or capable of remedy; the unqualified administrator (Rio Greening) was removed, further steps in the voluntary administration were stayed pending a Court-directed settlement conference and the appointment of a properly qualified independent administrator, because despite abuse concerns the administration might serve legitimate interests of creditors/shareholders and the s…