New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Creditor's compromise

Legal area

Court

28 Jan 2016

ACTION MEDIA LIMITED (IN LIQUIDATION) v LEVIN AND MADSEN-RIES AS LIQUIDATORS OF ACTION MEDIA LIMITED (IN LIQUIDATION) [2016] NZHC 29

Citation

[2016] NZHC 29
Court

High Court

The judge granted the adjournment because the court had ordered particular discovery of IRD correspondence relevant to a creditor's compromise, the IRD files were not yet located and examined and there could be no assurance there was no further relevant material; in the interests of justice the trial was adjourned to allow retrieval and inspection of those documents.
26 Aug 2010

THE COMMISSIONER OF INLAND REVENUE AND ANOR V PARK ESTATE LIMITED HC NAP CIV-2010-441-117

Citation

openlaw-c4fd5967_dfab_43bc_8557_e7a6111e4921.pdf
Court

High Court

Where credible concerns existed about the accuracy and integrity of information provided to creditors that could affect the legitimacy of a creditors' compromise vote, the proper exercise of the court's discretion was to adjourn the applications for a short period to allow those issues to be investigated and potentially resolved rather than decide on the stay or liquidation forthwith.