22 Jun 2020
BODY CORPORATE 68792 v WAKEFIELD PROPERTY LIMITED (formerly GATEWAY HOLDING COMPANY NO. 2 LIMITED) [2020] NZHC 1396
- Citation
- [2020] NZHC 1396
- Court
- High Court
The court held that the Body Corporate was entitled to winding up orders under s241 because Gateway failed to respond to the statutory demand and Luxe's informal unsupported offer of second mortgage security was reasonably rejected by the Administrator; s147 Unit Titles Act does not create a proprietary charge making the Body Corporate a secured creditor; Luxe failed to prove solvency or ability to pay; liquidators were appointed for both companies.