22 Jul 2021
McGEHAN v TE HOE DAIRIES LTD [2021] NZHC 1796
- Citation
- [2021] NZHC 1796
- Court
- High Court
There is a serious deadlock between equal shareholder directors that is frustrating the company's affairs, there are no realistic alternatives to resolve the impasse (no shareholders' agreement, intractable accounting and possession disputes), and therefore it is just and equitable under s241(4)(b) to place the company into liquidation and appoint an independent liquidator to effect a proper sale and wash‑up.