New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Powers of receiver

Legal area

Court

11 May 2023

D H MIKKELSEN v P & D MIKKELSEN PARTNERSHIP [2023] NZHC 1006

Citation

[2023] NZHC 1006
Court

High Court

The High Court has jurisdiction to appoint a receiver to wind up a partnership under the Partnership Law Act and the High Court's supervisory powers where the substantive application is to wind up the partnership; however, any relationship property questions that arise must be determined in accordance with the Property (Relationships) Act 1976 (s 4(4)), so receiver powers should be limited to selling assets and paying non‑partner creditors (s 84(a)), with net proceeds held in trust pending Family Court resolution of classification/division issues (avoid granting powers under s 84(b) and (c) w…
5 Nov 2012

DB BREWERIES LIMITED V HYNDMAN HC CHCH CIV 2010-409-001408

Citation

openlaw-444a7371_acea_4370_95ae_835e4c057ff8.pdf
Court

High Court

The receivers did not have contractual or statutory authority to pool the assets and sell the businesses of FCS, YCB and EJS as one lot; the security documents were confined to the contracting party (FCS) and did not confer rights over other companies' assets, and the Receiverships Act requires monies and accounting to be kept separate for each property in receivership (ss21 and 22) and imposes duties on receivers (ss18 and 19), thereby precluding the pooled sale carried out without agreement, valuation allocations or Court directions; accordingly the sale as conducted was unauthorized and qu…