26 Feb 2019
CONCRETE STRUCTURES (NZ) LIMITED v NMHB LIMITED [2019] NZHC 268
- Citation
- [2019] NZHC 268
- Court
- High Court
The application for a stay was dismissed. The court held the appeal against the refusal to set aside the statutory demand was a sideshow because insolvency set-off under s 310 operates substantively on liquidation and counterclaims can be raised in the liquidation proceeding; accordingly it was proportionate to refuse a stay and allow the liquidation proceeding to continue with directions for the defendant to file full particulars and evidence of counterclaims so the net position can be determined at the liquidation hearing.