5 Mar 2013
O'KEEFE V MAIRANGI PROPERTIES LIMITED HC AK CIV-2011-404-7388
- Citation
- openlaw-e2bcc4b3_d97c_4bf0_b77b_e7109e0af82e.pdf
- Court
- High Court
The plaintiffs have established status as prospective creditors because they have a bona fide, arguable District Court claim and thus a real prospect of becoming creditors; however they failed to establish any statutory ground for liquidation — no prima facie insolvency for leave under s 288(5); insufficient evidence of persistent or serious breaches of the Companies Act; and just and equitable winding up is not justified given available alternative remedies and the company's refinancing and asset position — accordingly the liquidation application is dismissed.