2 Nov 2022
COMMISSIONER OF INLAND REVENUE v PROPELLOR PROPERTY SERVICES LTD [2022] NZHC 2856
- Citation
- [2022] NZHC 2856
- Court
- High Court
The statutory requirements for liquidation under s 241(4)(a) were satisfied and the companies are unable to pay their debts; their proposals were uncertain and insufficient to secure payment within a reasonable timeframe; public policy and creditor protection require prompt liquidation, so adjournment was denied and liquidation orders granted.