4 May 2021
SMART v PHOTONIC INNOVATIONS LIMITED (IN LIQUIDATION) [2021] NZHC 972
- Citation
- [2021] NZHC 972
- Court
- High Court
The court exercised its discretion under s250 to terminate the liquidation as just and equitable despite a defective appointment, validated specified acts as covered by reg36 because they were done in good faith, appointed Poojitha Hafees Preena as director under s154, authorised payment of reasonable preservation costs and liquidation remuneration from shareholder-provided funds, and reserved leave for further directions; no general release from liability was granted.