16 Apr 2015
LA FAMIA NO. 1 LIMITED v GAN and YU and ORS [2015] NZHC 728
- Citation
- [2015] NZHC 728
- Court
- High Court
With the rectified deed of assignment and the legal advice obtained by the liquidator, the assignment was effective and the liquidator's decision was not so unreasonable as to be set aside under Callis; substitution under r 4.52 was therefore 'necessary' as a simple transmission of interest and a new parties order was granted, but appropriately conditioned to prevent prejudice by requiring payment of existing costs and provision of security for costs ($34,000 with $20,000 immediate).