16 Feb 2007
FOUNDATION SECURITIES (NZ) LIMITED V DIRECT LABOUR SERVICES LIMITED AND ANOR HC AK CIV 2006-404-4391
- Citation
- openlaw-73a0e265_a54c_4ac5_ab8f_3e130ac0d330.pdf
- Court
- High Court
A stay of execution that would prevent liquidators from exercising statutory custody and control over the company's assets and that would displace their office is not permissible; accordingly the interim stay cannot be maintained as a means to return control to directors and the proper course is an urgent contested hearing to determine the issue.