In Palmerston North City Council v Farm Holdings (4) Ltd (In Liquidation), liquidators were appointed to Farm Holdings by a creditor. Two District Councils applied to review the appointment of the liquidators. The appointing creditor sought to become a party to their application. The two District Councils opposed the appointing creditor becoming a party.

The New Zealand and UK Arbitration Acts generally require court proceedings to be stayed if the parties have agreed to resolve disputes through arbitration.

In a recent address to the Insolvency Lawyers Association, the new Chancellor of the High Court, Sir Geoffrey Vos, discussed briefly the effect of that statutory stay upon winding-up petitions.

Re Finnigan concerned the costs of a successful application to be appointed as liquidators after the liquidators had overlooked a disqualification.

In Intext Coatings Ltd (In Liquidation) v Deo, the High Court was again asked to consider the limits of the equitable remedy of tracing (previously considered here). In particular, the Court was asked to consider the circumstances in which 'backward tracing' (the tracing of trust funds used to repay a debt into the asset over which that debt arose) is available.

The English High Court in Re Caledonian Ltd considered whether the business practices of two companies justified the winding up of these companies on a just and equitable basis.

Caledonian Ltd and Caledonian Commodities Ltd (Companies) in concert marketed and sold (among other products) carbon credits, rare earth metals and coloured diamonds (Products) to individual investors.

In Petterson v Hutt a liquidator sought an interim injunction preventing any enforcement steps being taken under two general security agreements (GSAs).  In the substantive proceeding, the liquidator sought to have the GSAs set aside.

In Madsen-Ries & Anor v Donovan Drainage and Earthmoving Limited [2016] NZCA 301, the liquidators of a failed property development company, Te Pua, applied to set aside as insolvent transactions a number of payments which Te Pua made to a drainage contractor, Donovan. 

In CGES Limited (in liquidation and receivership) v Kelly [2016] NZHC 1465, the liquidator of CGES Limited brought claims against the former directors of the company for breaches of duties owed to the company.  The High Court held:

In Petterson v Browne [2016] NZCA 189 a liquidator successfully appealed to the Court of Appeal and obtained orders under sections 295 and 299 of the Companies Act 1993 (Act) for certain payments and security to be set aside. 

In our June 2015 update we reported on the Court of Appeal decision in which Mr Gilbert was held personally liable for body corporate levies, as a receiver of QSM Trustees Limited (QSMTL).  QSMTL owned units in a unit title complex.  The Body Corporate sought to exercise its statutory power and impose levies on Mr Gilbert personally, as receiver of QSMTL.