7 Mar 2011
THE COMMISSIONER OF INLAND REVENUE V CENTURY CITY HUNTER STREET LIMITED & ORS HC WN CIV-2010-485-2085
- Citation
- openlaw-de5fa2a8_716d_40e3_8200_fc8e0c6a5ce8.pdf
- Court
- High Court
Given the absence of timely formal opposition, the unproven nature of the proposed US$100 million funding and uncertainty as to adequacy of the offered securities, but recognising the need to avoid immediate liquidation without minimal opportunity to prove payment, the court granted a brief, specific adjournment with strict filing deadlines to allow proof of payment or security; failure to do so will allow liquidation to proceed.