27 Jul 2020
BODY CORPORATE 85978 v SAINT PAULS ASSET MANAGEMENT LIMITED [2020] NZHC 1803 [27 July 2020]
- Citation
- [2020] NZHC 1803
- Court
- High Court
Although there was prima facie evidence of insolvency and the plaintiff had standing as a contingent creditor, the Court refused to place the defendant into liquidation at that stage because the plaintiff's claim for costs was unquantified and unfixed; the Court would not order liquidation where the plaintiff had not taken steps to fix the very costs that give it standing and the defendant was given an interim opportunity to secure payment by ordering $15,000 into court and fixing costs on a timetable, with liquidation to follow if payment was not made.