New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Failing firm doctrine

Legal area

Court

3 Jul 2020

NZME LIMITED v NINE ENTERTAINMENT CO. HOLDINGS LIMITED [2020] NZHC 1565

Citation

[2020] NZHC 1565
Court

High Court

The Court held that the specific adverse consequences identified by Stuff's owner (risk to staff, advertisers, investors and recovery prospects) justified a limited departure from open justice; suppression of the redacted material (and of this judgment) was therefore ordered until 3 December 2020 to allow the new owner a reasonable period of 'clear air' to implement strategy and stabilise the business.
18 May 2020

NZME LIMITED v NINE ENTERTAINMENT CO. HOLDINGS LIMITED [2020] NZHC 1029

Citation

[2020] NZHC 1029
Court

High Court

The application for interim orders was dismissed because, on the balance of convenience and overall justice, NZME had low prospect of matching an unconditional competing offer that did not require Commission clearance, damages would be an inadequate but modest remedy for NZME while an injunction posed a real risk of derailing a viable third party transaction with significant job losses and public interest harm, so interim relief was refused.