30 Jun 2006
COMMISSIONER OF INLAND REVENUE V LANDBANK LTD HC WN CIV-2006-485-625
- Citation
- openlaw-35a492b9_349d_450d_957e_7a53cdcdb491.pdf
- Court
- High Court
Because the statutory demand was not set aside the presumption under s287 applies and the defendant failed to discharge that presumption or demonstrate a genuine substantial dispute or solvency; the alleged GST credits, even if available, would not satisfy the full amount claimed and are contested on the facts; accordingly the Court was satisfied the company was unable to pay its debts and ordered liquidation under s241(4)(a) with appointment of liquidators.