17 Feb 2023
ISLAND GRACE (FIJI) LTD (IN REC AND IN LIQ) v SATORI HOLDINGS LIMITED (IN INTERIM LIQ [2023] NZHC 219
- Citation
- [2023] NZHC 219
- Court
- High Court
On the material before the Court Satori was shown to be insolvent on both cash‑flow and balance‑sheet bases and had no viable arguable defence sufficient to meet the threshold for leave to file a late defence; New Zealand courts have statutory jurisdiction and are the appropriate forum; it was just and equitable to place Satori into liquidation and to appoint liquidators, and the shareholder's interlocutory applications and protest to jurisdiction were dismissed.