5 Mar 2013
GRANT & KHOV AS LIQUIDATORS OF NZ PROPERTIES HOLDING LIMITED (IN LIQ) V CP ASSET MANAGEMENT LTD HC AK CIV-2012-404-005014
- Citation
- openlaw-6a34aa49_25af_4492_8f7e_3d057119b965.pdf
- Court
- High Court
Because the liquidators went beyond a neutral statutory role and actively sought to set aside the creditors' resolution and opposed appointment of alternative liquidators, they assumed an adversarial role and were personally liable for the opponents' costs; the court awarded the first to sixth respondents NZD 8,955.00, refused any uplift, and declined to make an order under s45(5) in relation to the seventh respondents.