27 Nov 2009
GBR INVESTMENT LIMITED V GOOSE BAY RANCH HOLDINGS LIMITED AND ORS HC CHCH CIV-2009-409-613
- Citation
- openlaw-3d385b8d_f9d6_40ea_8ebd_64a491f2a349.pdf
- Court
- High Court
Plaintiff lacked standing to seek liquidation of wholly owned subsidiaries (Moana and Makura) because it was not a registered shareholder of those companies; however, on the evidence of irretrievable breakdown of trust, intermingling of assets and probable insolvency, it was just and equitable to place the parent company GBRH into liquidation; voluntary administration was not appropriate on the evidence; interim liquidators of Moana and Makura were removed for lack of jurisdiction; David D. Crichton and Kieran A. Horne were appointed liquidators of GBRH and advertising of the claim was waived.