6 Mar 2020
EAST DEVELOPMENT LIMITED v ALV DEVELOPMENT LIMITED [2020] NZHC 423
- Citation
- [2020] NZHC 423
- Court
- High Court
The freezing and ancillary orders were discharged/dismissed because the evidence established that Gera purchased the property at fair value, sale proceeds repaid secured creditors leaving ALV with no assets to which a freezing order could attach, there was no evidential basis of a risk of dissipation, and sufficient disclosure had been provided; accordingly the orders were not necessary or appropriate.