11 Sept 2018
PETTERSON v McCONNELL DOWELL CONSTRUCTORS LTD [2018] NZHC 2379
- Citation
- [2018] NZHC 2379
- Court
- High Court
McConnell Dowell is entitled to preferential ranking under Schedule 7 cl 1(1)(e) for recoveries of $1,114,253 and for costs of $297,748.80 because it funded litigation after liquidation that resulted in recoveries for the liquidation; Mr Browne is not entitled to priority under cl 1(1)(e) because the payments/indemnities at issue were not for the benefit of the general body of creditors nor consented to by the liquidator and the recoveries during liquidation attributable to him were limited, and his non-preferential unsecured claim is not limited to $201,316.