9 Oct 2015
CASTLEREAGH PROPERTIES LTD V WALKER AS LIQUIDATOR OF GIBBSTON WATER HOLDINGS LTD [2015] NZCA 481
- Citation
- [2015] NZCA 481
- Court
- Court of Appeal
The liquidator had authority to give notice under s141 in liquidation; FTG did not provide the required written unanimous assent under s107(3); Castlereagh failed to discharge the onus of proving Holdings received fair value on the information available at the time; alternatively the transfer was at an undervalue and rendered the company insolvent so was set aside under s348, therefore the appeal is dismissed.