6 Sept 2021
WARKWORTH RETAIL LTD v WARKWORTH HOLDINGS LTD [2021] NZHC 2314
- Citation
- [2021] NZHC 2314
- Court
- High Court
There was a valid winding‑up application that was likely to succeed, WHL was insolvent and recent related‑party transactions raised serious questions that could jeopardise asset value; although receivers had been appointed their remit was limited and would not necessarily investigate or prevent ongoing transactions, so it was expedient to appoint interim liquidators to preserve assets and provide oversight until the substantive application was resolved.