6 Dec 2022
FUGLE v FISK & NACEY [2022] NZHC 3253
- Citation
- [2022] NZHC 3253
- Court
- High Court
The Court refused the stay because the applicants' proposed appeals were weak and potentially unmeritorious, ALHL lacked bona fides and appeared to be obstructing sale to further the director's personal interests, a stay would prejudice unsecured creditors and risk the company's sole realisable asset through delay and insurance exposure, and granting a stay would frustrate the liquidators' duty to administer the liquidation reasonably and efficiently; accordingly the balance of convenience did not favour a stay.