1 Jul 2022
KHOV v NZDMG LIMITED (IN RECEIVERSHIP AND IN LIQUIDATION) [2022] NZHC 1563
- Citation
- [2022] NZHC 1563
- Court
- High Court
The Court exercised its discretion under s 286(4)(b) to permit the applicants to be appointed as liquidators of the subsidiaries because they posed no perceptible risk to independence, had no prior connection with shareholders or directors that would give rise to a disqualifying continuing business relationship under s 280, and appointment of the same liquidators was in the best interests of creditors and would be expedient and cost effective; the application could properly proceed without notice under r 7.23 given urgency and protections for creditors.