New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Gst debt

Legal area

Court

30 Nov 2010

JT MARINE FARMS LIMITED V THE COMMISSIONER OF INLAND REVENUE HC CHCH CIV-2010-409-002137

Citation

openlaw-32f4ce89_5fc6_4712_aaa4_c8d0787ca809.pdf
Court

High Court

Application dismissed because the company failed to demonstrate circumstances sufficiently compelling to displace the statutory policy that insolvency leads to liquidation; asset values and recoverability were uncertain, realisation efforts were insufficient, and there was no substantial dispute about the debt; affidavit execution irregularity was waived under r1.5.
22 Mar 2010

ATLAS FOOD AND BEVERAGE LIMITED AND ORS V THE COMMISSIONER OF INLAND REVENUE HC CHCH CIV-2009-409-001342

Citation

openlaw-7b6eaa0e_2f95_4fcb_a129_a0e9dfc90d8b.pdf
Court

High Court

The court held that r31.11 (with r31.22 extension) is the correct basis for stays in liquidation proceedings and applied the higher threshold from Anglian Sales: the Property Ventures group failed the threshold due to lack of commercial rationale, sole-creditor opposition, significant undisputed GST debt and public interest in investigation, so stays refused; by contrast the Atlas group met the threshold because refusal would likely render appeals nugatory and there was a realistic prospect that claims (particularly for Yellow Cross and Schwartz) would not be pursued by a liquidator, so limit…