27 Jun 2012
YOUNG & ASSOCIATES LIMITED V DAVID IAN RUSCOE AND RICHARD GRANT SIMPSON HC WN CIV-2012-485-65
- Citation
- openlaw-be69dce2_2af7_44cb_a339_005542978234.pdf
- Court
- High Court
The applicant's challenge failed because the liquidators' decision to settle was made in good faith, was within the range of decisions a reasonable liquidator could make given contingent future earnings, outdated valuation and sale risks, and therefore there was no demonstration of fraud, bad faith or irrationality warranting interference under s 284.