2 Apr 2014
NEWMAN v NORRIE AS LIQUIDATOR OF PAKIRI INVESTMENTS LIMITED [2014] NZHC 648
- Citation
- [2014] NZCCLR 15
- Court
- High Court
Although the liquidator was caught by s280(1)(cb) because his firm had a continuing business relationship with Ablaze (a secured creditor) within the two year period, the Court exercised its discretion under s286(4) to permit him to continue because any actual or perceived lack of independence was slight and outweighed by creditors' interest in an impartial investigation which depended on the liquidator's ongoing involvement and willingness to fund or pursue recovery given the lack of alternative funding; the application to order a creditors' meeting was dismissed for want of formal notice an…