New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Sale as a going concern

Legal area

Court

7 Jul 2020

GOWER AND GRACE [2020] NZHC 1605

Citation

[2020] NZHC 1605
Court

High Court

The Court granted the extension because it was satisfied that excusing the receivers from lease liabilities for the specified period was likely to facilitate a sale of the business as a going concern and thus was in creditors' interests, that most landlords were unlikely to be materially prejudiced, and that service by email was justified given the demonstrated nexus between recipients and landlords.
29 Jan 2016

GRENFELL [2016] NZHC 36

Citation

[2016] NZHC 36
Court

High Court

The Court granted a six month extension (to 2 August 2016) because the scale, complexity and trans-Tasman integration of DSE, the unfinished statutory report from directors, and a time-consuming sale process likely to maximise creditor returns justified additional time; the perceived prejudice from conferring moratorium benefits on receivers did not outweigh the demonstrable advantage to creditors and other remedies remained available to affected creditors.