2 Feb 2022
VANCE v VEY GROUP LIMITED (IN LIQUIDATION AND RECEIVERSHIP) [2022] NZHC 75
- Citation
- [2022] NZHC 75
- Court
- High Court
The liquidators conducted a reasonable, documented review and properly treated the intermingled transactions as a shareholder current account (except the 2015 term loan); under the applicable authorities a current account of this nature gives rise to liability on demand so pre-2011 components were not statute-barred; accordingly the liquidators' admission of Orana's claim was not unreasonable and the review application is dismissed; the termination application is discontinued and the agreed share transfer is approved under s248.