10 Dec 2013
WAIPAREIRA INVESTMENTS LIMITED v DAMIEN GRANT and KIRSTEN SMITH as liquidators of West Harbour Holdings Limited (in liq) [2013] NZHC 3281
- Citation
- [2013] NZHC 3281
- Court
- High Court
The proof of debt form completed for Waipareira was fundamentally deficient and did not comply with the prescribed Form 2 required by s 305(4); therefore Waipareira did not validly elect to value its security and prove as an unsecured creditor, remained a secured creditor outside the definition of 'creditor' in s 240, reg 22(2) did not apply, the vote purportedly cast on its behalf was of no legal effect, and its security was not surrendered.