7 Nov 2013
GIBBSTON DOWNS WINES LTD V PROPERTY VENTURES LTD CA546 [2013] NZCA 546
- Citation
- [2013] NZCA 546
- Court
- Court of Appeal
Although charged assets are ordinarily outside the liquidator's duties to unsecured creditors, s 254 confers a residual discretion enabling a liquidator to pursue property subject to charge in appropriate circumstances; where the receiver indicated it was not pursuing the debt (as shown in admitted affidavit evidence) and the liquidator acted to protect creditors' interests without prejudicing the secured party, the liquidator had authority to issue statutory demands. The alleged dispute as to Spinach Design's debt was not supported by sufficient contemporaneous evidence to displace the deman…