12 Dec 2014
AOTEAROA FOREST MARKETING LTD v NZ FOREST ENTERPRISE LTD [2014] NZHC 3194
- Citation
- [2014] NZHC 3194
- Court
- High Court
The statutory presumption of insolvency arising from the unmet statutory demand stood because NZFE failed to establish by clear and persuasive evidence any set-off or counterclaim sufficient to extinguish the debt to AFM; the $30,000 deposit must be brought into account but did not negate an undisputed balance of $17,248.73, which NZFE was ordered to pay to avoid liquidation; alleged US$27,425.22 counterclaim and other set-offs lacked contemporaneous, reliable evidence and were rejected for the purposes of the liquidation application; LGH's claim involved disputed facts that could not be reso…