7 May 2012
BANK OF NEW ZEALAND v TPS ACCOUNTING LIMITED (IN RECEIVERSHIP) (PREVIOUSLY KNOWN AS TAX PLANNING SERVICES LIMITED) HC WN CIV 2012-485-68
- Citation
- openlaw-a2689fe5_4ce9_4ba6_adc9_9332083c3099.pdf
- Court
- High Court
The s287(c) presumption of inability to pay was not rebutted because the defendants relied on unaudited, self-serving accounts without independent verification while credible receiver evidence showed debtor recoveries were unlikely; the Court therefore appointed the Official Assignee as liquidator and refused to exercise its discretion to decline liquidation.