13 Mar 2015
QUEENSLAND MAINTENANCE SERVICES (NZ) LIMITED v QUEENSLAND MAINTENANCE SERVICES (PTY) LIMITED (IN LIQUIDATION) [2015] NZHC 450
- Citation
- [2015] NZHC 450
- Court
- High Court
The Court concluded there was insufficient evidence of a genuine and substantial dispute: the applicant's and respondent's contemporaneous accounting records and audited financial statements, signed by the director, consistently treated the advances as loans, the promissory note cancellation was recorded and added to loan balances, and the interest position was reflected in the accounts; accordingly the statutory demand was not set aside.