16 May 2008
TEAM KIWI RACING LTD V GILLON AND ANOR HC AK CIV 2008-404-2450
- Citation
- openlaw-842a3062_2bf4_4ee9_ab2a_723625c52ae3.pdf
- Court
- High Court
The Court declared the purported appointments of Whittfield and Finnigan invalid and restored the status quo prior to 22 April 2008, on the basis that a commercial interim solution was required; it accepted an undertaking from Mr Gillon not to enforce the General Security Agreement until 5pm on 16 June 2008 subject to specified protective conditions for the secured creditor, reserved leave to apply if material adverse information arose, and ordered disclosure (payment and audited accounts) to enable informed enforcement decisions.