1 Nov 2021
MCVEIGH v DECMIL & ORS [2021] NZHC 2929
- Citation
- [2021] NZHC 2929
- Court
- High Court
The court concluded the consent order created an express trust for retention creditors and that, on the evidence, the applicant's earlier conduct (treating the funds as company property, depletion of the fund, incurring fees without clear court authorisation) together with undisclosed commercial arrangements with DAP gave rise to a real and reasonable appearance of conflict and potential lack of independence; accordingly the applicant was disqualified from appointment as receiver and the court appointed independent receivers (Gareth Hoole and Clive Bush) with powers under the Receiverships Ac…