22 Jul 2014
COMMISSIONER OF INLAND REVENUE v OHIWA DEVELOPMENTS LIMITED [2014] NZHC 1726
- Citation
- [2014] NZHC 1726
- Court
- High Court
The court declined to adjourn under s239ABV and ordered liquidation because administration was a late proposal dominated by related-party creditors, provided no realistic or sufficient benefit to external creditors (notably Inland Revenue), and the external creditors' commercial decision for finality outweighed speculative future returns from administration.