6 May 2020
ALTUS UAS INTERNATIONAL LIMITED [2020] NZHC 928
- Citation
- [2020] NZHC 928
- Court
- High Court
The Court exercised its power under s286(4)(b) to permit the applicants to be appointed as liquidators of the two subsidiaries notwithstanding potential disqualification under s280 because the applicants demonstrated no real risk to independence, competence or integrity, the appointment of the same liquidators for related companies serves creditors' interests by enabling efficient, cost‑effective administration and investigation of intercompany debts, and procedural fairness was preserved by ordering notice to known creditors with the first liquidators' report.