11 Aug 2011
GLENMORGAN FARM LIMITED (IN REC AND IN LIQ) V NEW ZEALAND BLOODSTOCK LEASING LIMITED HC AK CIV-2008-404-1759
- Citation
- openlaw-4cd9bc77_0501_462f_853d_a8f3a37fc8f7.pdf
- Court
- High Court
The court declined to order the liquidator personally to pay costs because there was no impropriety and the liquidator had acted on legal advice with an arguable case and an appeal pending; however the court ordered non-party S H Lock (NZ) Limited to pay the shortfall because Lock was the sole provider of funding (payment of security for costs), stood to benefit in priority to other creditors by reason of its secured position, and the payment enabled the litigation so that it was just to require Lock to meet the costs shortfall.