13 Jul 2021
There was a serious issue to be tried that the receivers' sale might undervalue assets and that the balance of convenience favoured a short intervening extension to enable potential full repayment; the Court could not extend PLA s119 notices to 30 July but could direct the receivers (and Westpac) to grant a short extension until midnight 15 July 2021 and accordingly ordered that extension.
25 Jun 2020
The Court held that under the Court of Appeal's orders the receivers' primary duty under s18 is to act in Mr Kidd's interests to facilitate WWL realising, as soon as reasonably practicable, sufficient assets to enable payment of USD25,000,000 into Court; s18(2) applies to make Mr Kidd the qualifying person in whose interests the receivers must act, s19's duty to obtain the best price applies only once the decision to sell and timing are made consistent with that primary duty, and the receivers must therefore reconsider their approval of the varied sale agreement and either file substantiated…
20 Oct 2017
There was no serious question to be tried that would justify an interim injunction because the remedy sought against the receiver and creditor is one in damages, the companies (not the bankrupt) own the property and the receiver is entitled and obliged to realise those assets to reduce debt; the balance of convenience favoured completing the sale of 7A Waiu Street and overall justice did not require granting injunctive relief.
22 Jul 2014
Court found on balance that Brown engaged in sale of cannabis from September 2011 to April 2013 amounting to significant criminal activity, held the Toyota Hilux and Bonus Bonds to be tainted (not the Triumph motorcycle), limited any profit forfeiture to profits from September 2011 to seizure, and approved the parties' agreed orders for forfeiture, sale and conditional resolution of profit forfeiture.
15 Dec 2009
Court found respondents' rates and hours inadequately justified, established misconduct in overcharging and improper payments to Waterstone Recovery Ltd, concluded disbursements to that related contractor were reviewable and not payable given lack of evidence of appropriate conduct, fixed remuneration for work to date at NZD 20,000 plus GST, directed refunds of specified amounts to be repaid, fixed future hourly rates at NZD 180/85/50 plus GST, adjourned security accounting issue, and dismissed application to remove liquidators for lack of s286 notice.