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    Liquidators to face personal claims for interference with third party property
    2013-04-03

    Warren Metals v Grant [2013] NZHC 263 was a successful appeal against a District Court decision that struck out the appellant's cause of action on the basis that the District Court did not have jurisdiction to review the acts of liquidators.

    Filed under:
    New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay
    Authors:
    David Perry , Scott Barker , Willie Palmer
    Location:
    New Zealand
    Firm:
    Buddle Findlay
    No priority given to solicitors' fees in opposing winding up petitions
    2012-12-20

    In the recent English decision of Neumans LLP v Andronikou & Others, a company had unsuccessfully opposed a winding up petition and the question for the Court was whether the solicitors' costs in doing so were an expense of the administration. In considering this issue, the Court noted that there would have to be "some special reason, connected with the administration" to make the administrators pay fees in full as an expense when statutory provisions did not allow for solicitors to have priority over other creditors and those entitled to claim expenses.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Legal Practice, Litigation, Buddle Findlay, Costs in English law, Solicitor, Liquidation
    Authors:
    David Perry , Scott Barker , Willie Palmer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    Re-calculating debts for the purpose of creditor's voting powers
    2012-09-28

    In the matter of Free Wesleyan Church of Tonga in Australia (inc (administrators appointed) Phoenix Lacquers & Paints Pty Limited v Free Wesleyan Church of Tonga in Australia Inc (administrators appointed) & Ors [2012] NSWSC 214 (13 March 2012), the plaintiff, Phoenix Lacquers, sought a declaration regarding the validity of a resolution to remove and replace joint and several administrators of the Free Wesleyan Church of Tonga which did not succeed.  The Free Wesleyan Church of Tonga in Australia was incorporated under the Associations Incorporation Act 2009 (NSW) and

    Filed under:
    Australia, New South Wales, Insolvency & Restructuring, Litigation, Buddle Findlay, Debt, Corporations Act 2001 (Australia)
    Location:
    Australia
    Firm:
    Buddle Findlay
    High Court rejects voidable preference claim due to incorrect characterisation of payments
    2012-03-30

    This case involved a claim under section 294 of the Companies Act 1993 by the liquidators of Five Star Finance Limited (in liquidation) (FSF) against a trustee of a trading trust (Bowden No. 14 Trust (Trust)) to set aside payments amounting to $928,937.79.  These payments were part of a large number of payments, not just from FSF to the Trust, but also from the Trust to FSF.

    Filed under:
    New Zealand, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay
    Location:
    New Zealand
    Firm:
    Buddle Findlay
    Active co-operation from United Kingdom courts in cross-border insolvency
    2011-10-04

    The recent English decision in the Australian liquidation, New Cap Reinsurance Corpn Ltd (in liquidation) and another v Grant and others (available here), has further opened up the possibility for New Zealand insolvency proceedings to be recognised and enforced in the United Kingdom. 

    Filed under:
    Australia, New Zealand, United Kingdom, Insolvency & Restructuring, Litigation, Buddle Findlay, Bankruptcy, Reinsurance, Liquidation, Liquidator (law), Insolvency Act 1986 (UK), High Court of Justice
    Location:
    Australia, New Zealand, United Kingdom
    Firm:
    Buddle Findlay
    Bank owes no duty of care to creditor of customer
    2011-07-01

    (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. 

    Filed under:
    New Zealand, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Shareholder, Duty of care, High Court of Justice
    Location:
    New Zealand
    Firm:
    Buddle Findlay
    Liquidator's examination of directors: public or private?
    2010-12-17

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

    Filed under:
    New Zealand, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay
    Location:
    New Zealand
    Firm:
    Buddle Findlay
    High Court confirms inherent jurisdiction to remove liquidators
    2020-09-07

    The High Court judgment in Commissioner of Inland Revenue v Livingspace Properties Ltd (in rec and in liq) [2020] NZHC 1434 is another chapter in the continuing, bitter saga between Robert Walker, the liquidator of Livingspace and David Henderson (through his wife as proxy).

    Filed under:
    New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay
    Authors:
    David Broadmore , David Perry , Jan Etwell , Kelly Paterson , Scott Abel , Scott Barker , Willie Palmer , Peter Niven , Bridie McKinnon , Myles O'Brien , Matthew Triggs , Oliver Gascoigne , Luke Sizer , Annie Cao
    Location:
    New Zealand
    Firm:
    Buddle Findlay
    Privilege survives dissolution of company
    2019-12-20

    The UK Court of Appeal has held that legal privilege outlasts the dissolution of a company in Addlesee v Dentons Europe LLP [2019] EWCA Civ 1600.

    Legal advice privilege applies to communications between a client and its lawyers. The general rule is that those communications cannot be disclosed to third parties unless and until the client waives the privilege.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Legal Practice, Litigation, Buddle Findlay
    Authors:
    Scott Barker , Willie Palmer , Susan Rowe , Kelly Paterson , Peter Niven , Bridie McKinnon , David Broadmore , Oliver Gascoigne , Olly Peers , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    Ross Asset Management - the final chapter?
    2018-08-24

    In what is likely to be the final chapter in the Ross Asset Management (RAM) liquidation, assuming no appeal is filed, the High Court has considered an application for directions by the liquidators of Ross Asset Management concerning how best to distribute recovered funds.  David Ross operated RAM as a Ponzi scheme for decades until the fraud was uncovered in 2012 and the company went into liquidation.  Mr Ross is currently serving a ten year plus term of imprisonment for his role as architect of the scheme.

    Filed under:
    New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay
    Authors:
    David Broadmore , David Perry , Jan Etwell , Kelly Paterson , Scott Abel , Scott Barker , Susan Rowe , Willie Palmer , Peter Niven , Bridie McKinnon , Matthew Triggs , Myles O'Brien , Oliver Gascoigne
    Location:
    New Zealand
    Firm:
    Buddle Findlay

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