4 Sept 2020
McELHINNEY and GRENFELL v WIRECARD NZ LTD [2020] NZHC 2312
- Citation
- [2020] NZHC 2312
- Court
- High Court
The court granted the requested extensions because the administrators demonstrated a genuine commercial need for additional time to complete an orderly going-concern sale involving multiple overseas bidders and parallel Australian proceedings, thereby justifying extensions of the convening period to 30 October 2020 and the statutory termination period to 6 November 2020 to avoid personal liability for wages; the court also directed that the watershed creditors' meeting may be conducted by video conference given overseas creditors and COVID-19 related practicalities, subject to measures ensuri…