15 Aug 2017
THE COMMISSIONER OF INLAND REVENUE v KIWI PAINTERS LIMITED [2017] NZHC 1948
- Citation
- [2017] NZHC 1948
- Court
- High Court
The defendant failed to comply with the clear, peremptory conditions attached to the earlier extension of time (non-payment of the $40,000 first tranche and the $50,000 instalment and late PAYE), the earlier order expressly allowed the Commissioner to elect rescission on such default, the Commissioner elected rescission, and the defendant is insolvent; accordingly the court gave effect to the rescission and made a liquidation order and appointed liquidators.