Bennett v Ebert Construction Limited (in receivership and liquidation)

[2020] NZHC 1003

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

I TE KŌTI MATUA O AOTEAROA TE WHANGANUI-A-TARA ROHE

CIV-2018-485-792

[2020] NZHC 1003

UNDER

the Receiverships Act 1993 and Part 19 of the High Court Rules 2016

BETWEEN

LARA MAREE BENNETT, JOHN HOWARD RISK and MICHAEL LONGMAN

Applicants

AND

EBERT CONSTRUCTION LIMITED

(in receivership and liquidation) Respondent

AUCKLAND VENTILATION SERVICES LIMITED

First Interested Party

TASLO STEEL SECURITY LIMITED

Second Interested Party

On the papers
Counsel:	R L Pinny for Applicants
Judgment:	15 May 2020

JUDGMENT (NO. 3) OF CHURCHMAN J

[1]        In November 2018, the applicants were appointed receivers of a fund comprising of retentions held on trust for the subcontractors of the  respondent (Ebert Construction Limited) (in receivership and liquidation).

[2]        The applicants have now completed the receivership and have filed a final report dated 9 April 2020.

BENNETT & ORS v EBERT CONSTRUCTION LIMITED (IN RECEIVERSHIP AND LIQUIDATION) (NO. 3) [2020] NZHC 1003 [15 May 2020]

[3]        By application dated 20 April 2020, the applicants seek an order formally bringing the receivership of the retentions fund to an end.

[4]        Having reviewed the receivers’ report, I am satisfied that the receivership should be concluded. The receivership has resulted in a payment of approximately  96 cents in the dollar which, in the circumstances, represents a favourable outcome.

[5]        Accordingly, I formally order that the receivership of the retentions fund is now at an end. I note that the receivers continue to act as receivers of Ebert Construction Limited (in receivership and liquidation) and nothing in this order relates to that receivership.

Churchman J

Solicitors:
Simpson Grierson, Wellington for Applicants