12 Oct 2021
BODY CORPORATE 368694 [2021] NZHC 2731
- Citation
- [2021] NZHC 2731
- Court
- High Court
Given overwhelming owner support, a purchaser offer materially above individual unit market value, the avoidance of significant levies, renovation costs and trading losses, full protection of creditors from sale proceeds, and mechanisms to protect minority owners (funds held in trust pending completion of formalities), it is just and equitable to authorise cancellation of Unit Plan 368694, surrender of registered leases, and consequential orders under the Property Law Act to enable sale and transfer to the purchaser; Registrar authorised to sign necessary documents.