25 Jun 2020
KIDD v VAN HEEREN [2020] NZHC 1449
- Citation
- [2020] NZHC 1449
- Court
- High Court
The Court held that under the Court of Appeal's orders the receivers' primary duty under s18 is to act in Mr Kidd's interests to facilitate WWL realising, as soon as reasonably practicable, sufficient assets to enable payment of USD25,000,000 into Court; s18(2) applies to make Mr Kidd the qualifying person in whose interests the receivers must act, s19's duty to obtain the best price applies only once the decision to sell and timing are made consistent with that primary duty, and the receivers must therefore reconsider their approval of the varied sale agreement and either file substantiated…