17 Dec 2009
NGATI TAMA CUSTODIAN TRUSTEE LIMITED V MY VIRTUAL HOME INTERNATIONAL LIMITED (IN RECEIVERSHIP) HC AK CIV 2009-404-7584
- Citation
- openlaw-02080c61_5cec_49ed_a0ef_c9ce96e8e821.pdf
- Court
- High Court
There is a serious question to be tried but the balance of convenience favors permitting the receiver appointed over CDS to market and sell the business/assets to obtain the best reasonably available price; accordingly the interim injunction restraining disposal is discharged, subject to an order that the net proceeds of any sale be paid into Court pending resolution of priority disputes; the restraint on advertising the liquidation is also discharged and jurisdictional protest is adjourned.