Agape-Holistic Retreat Corporation Limited (in liq) v Agape-High Q-Holistic Horsemanship Corporation Limited HC Auckland CIV 2007-404-6917

[2010] NZHC 1673

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

CIV-2007-404-6917

BETWEEN  AGAPE-HOLISTIC RETREAT CORPORATION LIMITED (IN LIQUIDATION)

Plaintiff

ANDAGAPE-HIGH Q-HOLISTIC HORSEMANSHIP CORPORATION LIMITED

First Defendant

AND  BANK OF NEW ZEALAND Second Defendant

Hearing:         By memoranda

Appearances: Mr C T Jones for Official Assignee as liquidator of the plaintiff

Mr G W Hall and Ms S R Willetts for first defendant

Judgment:      20 September 2010 at 5 pm

[FINAL] JUDGMENT OF LANG J

This judgment was delivered by me on 20 September 2010 at 5 pm, pursuant to Rule

11.5 of the High Court Rules.

Registrar/Deputy Registrar

Date……………

Solicitors:

Buddle Findlay, Auckland

Insolvency & Trustee Services, Auckland

AGAPE-HOLISTIC RETREAT CORP LTD  (IN LIQUIDATION) V AGAPE-HIGH Q-HOLISTIC HORSEMANSHIP CORP LTD AND ANOR HC AK CIV-2007-404-6917  20 September 2010

[1]      In my interim judgment  issued on 16 September 2010  I indicated that  I proposed to award the first defendant costs in the sum of $95,000 inclusive of disbursements unless I received submissions to the contrary no later than 5 pm on Friday 17 September 2010.

[2]      I have now received a joint memorandum of counsel in which they confirm that they have no objection to costs being fixed in accordance with my interim judgment.  I make an order accordingly.

[3]      I also make the following orders by consent:

a)       An order that $20,000 of the security held by the Court be released by the Registrar by way of payment to the first defendant’s solicitor’s trust account in respect of the costs award made in favour of the first defendant in this judgment;

b)An order that the remaining $10,000 of the security held by the Court be released by the Registrar by way of payment to the second defendant’s solicitor’s trust account in respect of the costs award previously made by consent in favour of the second defendant;

c)        That leave be granted to discontinue the proceeding pursuant to rule

15.20(1)(b), and

d)The   undertakings   contained   in   paragraph   3.3   of   the   joint memorandum   of   counsel   dated   20   November   2007   and   the undertaking dated 21 November 2007 are hereby discharged and released.

Lang J