29 Sept 2022
RE CAMERON AND ROBERTSON-BROWN [2022] NZHC 2495
- Citation
- [2022] NZHC 2495
- Court
- High Court
The Trust is unable to meet debts as they fall due and appointment of a licensed insolvency practitioner as receiver is reasonably necessary and just and equitable; John Marshall Scutter is appointed receiver, trustees must not exercise development-related powers (those are to be exercised by the receiver), the receiver may borrow, engage consultants and agents, follow Companies/Receivership priority rules for creditors, be paid from trust assets, report within 12 months and seek Court leave if receivership extends beyond that period.