22 Mar 2010
ATLAS FOOD AND BEVERAGE LIMITED AND ORS V THE COMMISSIONER OF INLAND REVENUE HC CHCH CIV-2009-409-001342
- Citation
- openlaw-7b6eaa0e_2f95_4fcb_a129_a0e9dfc90d8b.pdf
- Court
- High Court
The court held that r31.11 (with r31.22 extension) is the correct basis for stays in liquidation proceedings and applied the higher threshold from Anglian Sales: the Property Ventures group failed the threshold due to lack of commercial rationale, sole-creditor opposition, significant undisputed GST debt and public interest in investigation, so stays refused; by contrast the Atlas group met the threshold because refusal would likely render appeals nugatory and there was a realistic prospect that claims (particularly for Yellow Cross and Schwartz) would not be pursued by a liquidator, so limit…