16 Sept 2009
COMMISSIONER OF INLAND REVENUE V REVO INDUSTRIES LIMITED HC AK CIV 2009-404-5433
- Citation
- openlaw-a7dc68dd_bc70_4e4e_95af_5a1d8ab32f6b.pdf
- Court
- High Court
Leave was granted to the creditor to bring the application; Revo was restored to the Companies Register under s329; the liquidators' stated refusal to pursue the identifiable asset without pre-funding amounted to a failure to comply with their duty to realise and distribute assets (s253 and s285); s254 does not apply to private liquidators; therefore the Court removed the existing liquidators under s286 and appointed replacements; costs were awarded against the outgoing liquidators.