New Zealand Case Law: Decisions & Judgments

Topic

Freezing injunction

Legal area

Court

29 Nov 2016

QUEENSLAND MAINTENANCE SERVICES (NZ) LIMITED (IN LIQUIDATION) v ZULLO PROPERTY GROUP (NZ) LIMITED [2016] NZHC 2857

Citation

[2016] NZHC 2857
Court

High Court

Exclude clause 6 of form G38 because the freezing order is limited to NZD 1,000,000, other assets exist to meet defendants' expenses, the property is not a trading asset and therefore ordinary course disposal is inapplicable; variation remains available. On costs, neither party should recover because both had a measure of success and the defendants' Calderbank offer was not sufficiently comparable to the order made.
26 Nov 2012

OLIVIA LEE V COMPOSITE CLADDING & SIGNAGE MANUFACTURE AND INSTALLATION LIMITED HC WHA CIV-2011-488-176

Citation

openlaw-c7f91bff_6cc1_42cd_9465_0259058c2bca.pdf
Court

High Court

The application was dismissed because Ms Lee failed to demonstrate a good arguable case and there was no evidence CCS was likely to dissipate assets; the parties had only agreed funds were to remain until District Court determination, not until exhaustion of appeals, and thus the Court would not retain the funds pending appeal.
27 Apr 2012

NZF MONEY LIMITED (IN RECEIVERSHIP) V O'CONNOR HC AK CIV-2012-404-001833

Citation

openlaw-fb5f43aa_4573_4e2a_b320_f425caba35c4.pdf
Court

High Court

On the evidence before the Court NZF Money demonstrated a good arguable case that the directors breached fiduciary duties and s 131 in selling NZF Homeloans shares at an apparent gross undervalue and that NZF Group may hold subsequent sale proceeds as constructive trustee; coupled with credible indicators of liquidity deterioration, regulatory investigations and statements indicating potential dissipation, there was a high risk of dissipation and the freezing order should be continued with limited variations to permit legal and ordinary course payments.
16 Apr 2012

SOUTH PACIFIC INDUSTRIAL LIMITED V UNITED TELECOMS LIMITED HC WHA CIV 2012-488-202

Citation

openlaw-cac3c6e4_4170_4467_99a1_41f17d661fa2.pdf
Court

High Court

The Court continued the existing interim freezing order but limited its monetary scope to NZD 350,000 in respect of scrap and proceeds in New Zealand because of demonstrated concerns about UTL's conduct and unreliable affidavit evidence; final orders were deferred pending either deposit of a suitable amount into a local trust account or oral explanation from UTL's director, with the matter adjourned for further conference.

New Zealand Case Law

QUEENSLAND MAINTENANCE SERVICES (NZ) LIMITED (IN LIQUIDATION) v ZULLO PROPERTY GROUP (NZ) LIMITED [2016] NZHC 2857

OLIVIA LEE V COMPOSITE CLADDING & SIGNAGE MANUFACTURE AND INSTALLATION LIMITED HC WHA CIV-2011-488-176

NZF MONEY LIMITED (IN RECEIVERSHIP) V O'CONNOR HC AK CIV-2012-404-001833

SOUTH PACIFIC INDUSTRIAL LIMITED V UNITED TELECOMS LIMITED HC WHA CIV 2012-488-202