6 Sept 2011
AXA NEW ZEALAND NOMINEES LIMITED V 10 GILMER LIMITED (IN RECEIVERSHIP) HC WN CIV 2011-485-1572
- Citation
- openlaw-af8c14e7_1b70_4789_9596_ca8c29efe403.pdf
- Court
- High Court
The Court granted the interim injunctions because AXA demonstrated a serious question to be tried and the balance of convenience favoured preservation of AXA's security: the risk that defendants' transfers and conduct would subvert AXA's securities, unpaid rates and insurance issues, and an outstanding insolvency process made damages an inadequate remedy; defendants faced less risk if receivers continued to run the business pending summary judgment.