6 Mar 2014
MAINZEAL PROPERTY AND CONSTRUCTION LTD (IN RECEIVERSHIP AND IN LIQUIDATION) v RICHINA GLOBAL REAL ESTATE LTD [2014] NZHC 387
- Citation
- [2014] NZHC 387
- Court
- High Court
The Court held there is no jurisdiction to grant a stay of execution of an order for liquidation under r 12(3)(a) in circumstances where the liquidation order is executed immediately under s 241(5) and the statutory liquidation process has commenced; protective measures should instead be sought under s 284. Accordingly the application for a stay was declined and a s 284 order made restraining the liquidators from abandoning or compromising the extant application to set aside the pooling orders.