14 Sept 2020
REYNOLDS & ORS v FINNIGAN & ORS [2020] NZHC 2389
- Citation
- [2020] NZHC 2389
- Court
- High Court
The Court exercised its discretion to reject Red 9's application for $50,000 cash security and instead ordered that the liquidator (Grant Reynolds) and Ms Joanne Lee Young provide a joint and several written undertaking accepting personal liability for any costs awarded in favour of Red 9 against The Learning Ladder Limited (in liquidation) up to a maximum of $35,000 (plus GST if any) to be filed within 14 days, failing which proceedings will be stayed; the undertaking was held to be an appropriate and equivalent form of security given policy reluctance to inhibit liquidators and confidence i…