3 Dec 2010
THE COMMISSIONER OF INLAND REVENUE V TAWERA LAND COMPANY LIMITED HC PMN CIV-2010-454-615
- Citation
- openlaw-e5a87054_1370_4981_a426_1115c399cbb2.pdf
- Court
- High Court
The defendant is deemed insolvent under s287 due to failure to comply with the statutory demand; it failed to provide independently verified financial information, continues to incur unpaid tax (including a substantial omitted GST amount) and its settlement proposal was unreliable; accordingly the Court must, absent exceptional reasons, order liquidation and appoint liquidators.