7 Jul 2022
SPMAAH PTY LTD v ASJ COMMODITIES LP [2022] NZHC 1580
- Citation
- [2022] NZHC 1580
- Court
- High Court
Given credible evidence of material breaches (withholding financial disclosure, removal of Xero access, allegations of competing business) and mutual distrust making continuation impracticable, and the absence of adequate financial information placing assets potentially at risk, it was necessary and expedient under s246 Companies Act 1993 to appoint interim liquidators to preserve assets and report on the partnership's financial position; however the substantive liquidation proceeding is stayed to permit compliance with the partnership deed's dispute resolution clause for mediation, because t…