InThe Commissioner of Inland Revenue v Blackmore Trust Ltd, Blackmore tried to stave off liquidation for the sum of $1.4 million owed to the IRD.  After six or seven adjournments, Blackmore finally put evidence before the Court (albeit through its lawyer, rather than by affidavit) claiming that its liabilities totalled $15.6 million, and its sole asset, the James Smith building in the Wellington CBD, was valued at $21.5 million as a going concern, or $11 million - $13 million in a "fire sale".

The government placed the Hubbards, their companies (Aorangi Securities and Hubbard Management Funds), and seven charitable trusts in statutory management in June 2010. 

Simpson and Downes v CIR involved an application by receivers for directions under section 34 of the Receiverships Act 1993 in relation to whether the receivers of a mortgagee were personally liable to account for GST on the supply of six properties sold by the receivers at mortgagee sale.

In Jordan and Vance v First City (in liquidation ) & Gore Street (in liquidation), the liquidators of Gore Street applied for a pooling order that the liquidation of the two defendants, First City and Gore Street, proceed as if they were one company.

(High Court Auckland, CIV 2010-404-6381, 8 April 2011, Associate Judge Matthews)

In ASB Bank Limited v Hall, the High Court confirmed that a bank does not owe a duty of care to a creditor, director or shareholder of a customer of the bank. 

The recent case of Re Armitage, ex parte Established Investments Limited (in liquidation) considered an objection by the Official Assignee to Mr Armitage's automatic discharge from bankruptcy. 

Levin v Rastkar involved an appeal against a High Court decision dismissing an application by the liquidators of Western Clothing Limited to set aside several transactions by Western alleged to be voidable under section 292 of the Companies Act 1993 (in its previous form).  

In our legal update on insolvency law issued in July 2010 we commented on the High Court decision of McKay v Toll Logistics (NZ) Limited. 

We reported on the first instance decision in this litigation last year (see here).  The New South Wales Court of Appeal recently delivered judgment on the liquidators' appeal.

Mr Petricevic is the former director of Bridgecorp and currently faces criminal charges of fraud that carry with them the possibility of a maximum of 49 years in prison.