17 Aug 2021
CAIN v RILEAN CONSTRUCTION (CENTRAL OTAGO) LTD (in liq) [2021] NZHC 2153
- Citation
- [2021] NZHC 2153
- Court
- High Court
The Court appointed the liquidator (applicant) as court receiver and manager to administer the retention fund held on trust under ss 18A–18I of the Construction Contracts Act 2002, authorised pro rata distribution of the fund to entitled subcontractors (with interim distributions permitted), declined to pay interest until all valid non-interest claims are paid in full, and authorised deduction of the receiver's costs from the fund up to $25,000 without further court approval.