23 Nov 2023
X & TOM HOLDING LTD v SKY BUILDINGS LTD [2023] NZHC 3355
- Citation
- [2023] NZHC 3355
- Court
- High Court
Sky Buildings Limited failed to comply with the statutory demand and produced no evidence to rebut the statutory presumption of inability to pay; the Court therefore had jurisdiction under s 241(4) and, exercising its residual discretion, ordered Sky into liquidation and appointed liquidators because permitting an apparently insolvent company to continue trading would risk creditors.