New Zealand Case Law: Decisions & Judgments

Topic

Optional convertible notes

Legal area

Court

10 Feb 2012

TELSTRA NEW ZEALAND HOLDINGS LIMITED V COMMISSIONER OF INLAND REVENUE HC AK CIV 2010-404-6563

Citation

openlaw-c9013324_106f_4c36_9b7e_c0d26e48a3bc.pdf
Court

High Court

Proceedings were stayed where parties gave undertakings to be bound by the final outcome of the Alesco litigation; Telstra's distinct application to vacate its hearing was not decided on the papers and was timetabled for a one hour hearing after 30 March 2012 with directed dates for affidavits and submissions; a related discovery review by RadioWorks and TVWorks was dismissed as otiose.
12 Dec 2011

ALESCO NEW ZEALAND LTD AND ORS V COMMISSIONER OF INLAND REVENUE HC AK CIV 2009-404-2145

Citation

openlaw-a83d7564_2aca_4314_83da_7bf81f867e78.pdf
Court

High Court

The Notes, while complying with G22/G23 formalities and disclosed under accounting standards, were an artificial device used to secure New Zealand tax benefits outside parliamentary contemplation; they had no real economic cost and the option component had no practical value in the related-party context; accordingly the arrangements were tax avoidance under s BG 1, the Commissioner could void the deductions and counteract the advantage, and shortfall penalties for an abusive tax position were properly imposed.
15 Apr 2011

ALESCO NEW ZEALAND LIMITED V COMMISSIONER OF INLAND REVENUE HC AK CIV 2009-404-2145

Citation

openlaw-25d78858_1922_4db8_8aef_7615b5fdbebb.pdf
Court

High Court

Adjournment for RadioWorks and TVWorks was granted because the Court of Appeal's decision rendered the planned September fixture impossible and returned discovery matters to the Associate Judge; Alesco was granted priority because it was ready to proceed and the court allocated a three-week trial beginning 12 September 2011; Telstra 2 was not allocated as a reserve fixture because that would unfairly burden the Alesco timetable; the stay on the Toll proceeding was lifted due to the public interest and significant tax at issue; detailed disclosure and timetabling directions were made to ensure…

New Zealand Case Law

TELSTRA NEW ZEALAND HOLDINGS LIMITED V COMMISSIONER OF INLAND REVENUE HC AK CIV 2010-404-6563

ALESCO NEW ZEALAND LTD AND ORS V COMMISSIONER OF INLAND REVENUE HC AK CIV 2009-404-2145

ALESCO NEW ZEALAND LIMITED V COMMISSIONER OF INLAND REVENUE HC AK CIV 2009-404-2145