5 Aug 2016
CARGILL INTERNATIONAL S.A. v SOLID ENERGY NEW ZEALAND LIMITED & ANOR [2016] NZHC 1817
- Citation
- [2016] NZHC 1817
- Court
- High Court
The DOCA did not contravene Part 15A and was not oppressive or unfairly prejudicial to Cargill. The Participants Committee and the allocation of decision-making were permissible under the flexibility of Part 15A because deed administrators retained non-delegable statutory duties and could refuse unlawful instructions; liability and release clauses were qualified 'to the maximum extent permitted by law' and therefore not per se invalid; no-challenge and no-set-off clauses did not oust court jurisdiction or breach statutory set-off rules; classification of creditors and conduct of deed administ…