27 Oct 2016
FATWEB LTD v MANAIA ONE LTD [2016] NZHC 2563
- Citation
- [2016] NZHC 2563
- Court
- High Court
Manaia failed to demonstrate clear and persuasive grounds for its asserted set-off or counterclaim; the arbitrator's binding findings limited Manaia's entitlement and unchallenged evidence showed no Treacy-platform sales in the relevant period; Manaia also failed to prosecute its claim or seek discovery; accordingly the s287 presumption of insolvency applied and the Court exercised its discretion to place Manaia into liquidation.