13 Oct 2022
There was no basis to set aside the bankruptcy notices so the applications failed; Exuberant Ltd had no defence to the statutory demand and must be wound up, with liquidators appointed in accordance with their consent and subject to statutory conditions (s 284), and the plaintiffs are entitled to indemnity costs; liquidators may act individually (s 242).
12 Mar 2018
The covenant implied by s98 of the Land Transfer Act 1952 was preserved for the lease (an instrument in operation before repeal) by s367(5) of the Property Law Act 2007, and, consistent with common law authority, that covenant gives the assignees (first to fourth defendants) a right to indemnity from subsequent assignees (the third parties) for liabilities, damages and expenses arising from breaches; the third parties' failure to defend admitted liability and judgment was properly entered for the claimed defence costs and indemnity, with costs on an indemnity basis.