(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. 

Finnigan v He underlines the obligatory nature of bankruptcy set-off whereby once the statutory requirements that exist in section 310 of the Companies Act 1993 are met (and no exclusion applies), such a set-off is mandatory. It also discusses when a transaction occurs and the operation of the exclusion in section 310(2) that preludes bankruptcy set-off.

The case of Taylor and Ors v B concerned a company that imported and distributed hair care products, Cabellos Holdings Limited.

Khan v Reid acts as a reminder to file applications and appeals promptly.

In Taylor & Ors v Bank of New Zealand (HC, 14/12/2010, Panckhurst J, Christchurch, CIV 2008-409-964), the High Court held that a bank's appointment of a receiver without any prior written notice to the debtor was in accordance with the terms of the security agreement and was therefore valid.

'Restructuring by numbers' has never been good enough. That is more true now than ever.

Bank B sought adjudication in bankruptcy of F.

The residual powers that directors of a company in receivership have to commence a claim by that company without the receivers' consent were recently considered by the High Court.

A recent UK High Court decision on the issue of balance sheet insolvency will be of interest in New Zealand, despite the fact that the respective statutory solvency tests differ.  

The court had made orders for examination of 4 current and former directors of New Image by the liquidators of Omegatrend.