4 Dec 2020
KHURANA TRUSTEE LIMITED v CASTLE BACKPACKER K ROAD LIMITED [2020] NZHC 3192
- Citation
- [2020] NZHC 3192
- Court
- High Court
The Court granted leave to file a statement of defence out of time because the defendant demonstrated an arguable defence on the documents (challenge to whether loan funds were advanced and possible contractual/warranty issues), successfully rebutted the statutory presumption of insolvency on a cash-flow basis (albeit narrowly), the delay was mitigated by the COVID‑19 lockdown and the overall justice favored allowing the defence to be filed; the strike out/stay application was left undecided.