28 Feb 2020
RATHMORE PROPERTIES LIMITED v HAWK PACKAGING LIMITED [2020] NZHC 323
- Citation
- [2020] 3 NZLR 134
- Court
- High Court
Although Rathmore established creditor status and Hawk Packaging's insolvency, the Court exercised its residual discretion to make a tailored winding up order: appoint the Official Assignee as liquidator but defer commencement to 4.00 pm on 1 April 2023 and impose interim consented restrictions on non-party Hawk Group (retention of shareholding, prohibition on trading by Hawk Packaging and limited registration only to allow contracted use of tax losses) because balancing public policy favouring liquidation against the particular facts (openness, professional advice, absence of fraud, consente…