14 Nov 2022
VIRANDA PARTNERS LIMITED v GUEST [2022] NZHC 2957
- Citation
- [2022] NZHC 2957
- Court
- High Court
The court held s165(3)(b) was satisfied and granted leave: given VPL's dysfunction, cessation of trading, lack of secure funding and real risk the fixture would be jeopardised if informal support ended, it was in VPL's interests that conduct of proceedings not be left to its directors/shareholders; Veritas' funding regularised the situation and the likelihood of success and cost‑benefit supported granting leave, subject to limiting conditions and reporting requirements.