18 Jun 2020
PR LAW QUEENSTOWN NO 1 TRUSTEES LIMITED (IN LIQUIDATION) v NORRIS [2020] NZHC 1397
- Citation
- [2020] NZHC 1397
- Court
- High Court
The Court granted directions under s66 permitting the trustees to accept the second offer because an independent valuation and market testing showed the offer sat at the top end of the realistic valuation range, trustees had acted reasonably and prudently, risks of waiting outweighed potential upside, and the Court would discharge the interim charging order to permit the sale while preserving proceeds pending resolution of indemnity and costs issues.