31 Jul 2023
NUTRA FOODS 2011 LIMITED (in liq) v ATTITUDE FOODS (2018) LIMITED [2023] NZHC 2013
- Citation
- [2023] NZHC 2013
- Court
- High Court
The draft settlement deed was not binding in a way that extinguished the debt; even if referenced as binding in communications, Attitude Foods defaulted on agreed terms, leaving an outstanding undisputed debt of $206,047.46; the security interest granted on 27 April 2022 does not amount to compounding under s289(2)(d); Attitude Foods failed to establish solvency or other grounds to displace the presumption in favour of liquidation; Court therefore ordered liquidation and appointed liquidators.