7 Jul 2020
The Court found the applicants were justified in commencing proceedings to obtain removal and replacement of liquidators given a deadlock among creditors, but exercised its discretion to award costs to the respondent on a 2B scale and ordered those costs to be paid from the assets of the company in liquidation.
26 Mar 2014
Section 286 is a self‑contained statutory code for removal of liquidators; applicant conceded respondents were not disqualified under s280 and failed to serve the mandatory s286(2) notice alleging a failure to comply, therefore the Court had no jurisdiction to make removal orders and the application was dismissed; alternatively leave under s284 would also have been refused as unmeritorious.
15 Aug 2012
Indemnity and increased costs refused because the respondent's case was not 'hopeless' and its conduct, while imprudent in parts, was not sufficiently unreasonable or materially wasteful to attract enhanced costs under r 14.6; standard scale 2B costs awarded instead.
20 Dec 2011
Leave was granted under s 284(1)(b); on the evidence (documents and witness testimony) the Court found Manifest discharged the onus on the balance of probabilities that Northern Crest owes AUD 3,000,000 and reversed the liquidators' rejection, directing admission of the claim; the Reeves affidavit was ruled inadmissible because, although discussions were without prejudice, the applicant did not establish a prima facie case of dishonest purpose to override privilege; consequential directions and a confidentiality order were made.
24 Mar 2011
Each side enjoyed substantially equal success; applicant's settlement offers did not meet r14.11(3) and were late; the proceeding did not warrant 3B categorisation and is assessed at category 2B; applicant irresponsibly maintained serious unproven allegations without timely discovery which justifies an uplift, but because respondents delayed disclosure the uplift is reduced to 25%; resulting costs award is $12,000 to the liquidators and disbursements $2,640.89 to the applicant; no costs awarded to the applicant.
29 Oct 2010
The Court has jurisdiction under s 284, s 284(1)(b) and s 321(1)(f) to reverse the filing of a liquidator's final report, prevent striking off and remove private liquidators even after completion where there is good reason; while private liquidators are not required to fund investigations themselves, it is unreasonable for them to refuse to resign or permit the Official Assignee to assume the role where acknowledged grounds for investigation exist but no creditor will fund them, and the Court will exercise its discretion to appoint the Official Assignee to enable investigation.
15 Dec 2009
Court found respondents' rates and hours inadequately justified, established misconduct in overcharging and improper payments to Waterstone Recovery Ltd, concluded disbursements to that related contractor were reviewable and not payable given lack of evidence of appropriate conduct, fixed remuneration for work to date at NZD 20,000 plus GST, directed refunds of specified amounts to be repaid, fixed future hourly rates at NZD 180/85/50 plus GST, adjourned security accounting issue, and dismissed application to remove liquidators for lack of s286 notice.