28 Nov 2014
REYNOLDS AS THE LIQUIDATOR OF JAMES DEVELOPMENTS LTD (IN LIQUIDATION) v JAMES CA608/2012 [2014] NZCA 578
- Citation
- [2014] NZCA 578
- Court
- Court of Appeal
The Court upheld the finding that Mr James paid or procured payments (including via OREL) which met liquidator remuneration and litigation costs properly incurred for the company in liquidation; those payments fell within Schedule 7 cl 1(a) and by subrogation and equity offset the preferential receipts of $60,904, and it was appropriate under s295 to deny the liquidator repayment in this rare case.