9 Apr 2020
MENZIES v VAYCAY TRADING LTD [2020] NZHC 618
- Citation
- [2020] NZHC 618
- Court
- High Court
The Court concluded Vaycay was unable to pay its debts on the evidence and there was an irretrievable breakdown between the shareholders (including a protection order and withholding of company records and asset information); because the respondent's alternative s 174 proposal was vague, unparticularised and did not negate insolvency grounds, the Court exercised its discretion to order liquidation.