31 Jul 2019
IBC JAPAN LTD v AUTOTERMINAL NEW ZEALAND LTD [2019] NZHC 1834
- Citation
- [2019] NZHC 1834
- Court
- High Court
IBC's liquidation claim was struck out because the matters relied upon were primarily shareholder issues for the incorporators or the shareholder(s) of ATNZ (not a creditor), parallel civil proceedings already existed to resolve the contractual and ownership disputes, and IBC as a contingent creditor did not have a sufficient interest to advance shareholder-type just and equitable winding up grounds in these circumstances; a stay was inappropriate and the liquidation claim was an abuse of process in context.