Du v Li

[2025] NZHC 2391

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

I TE KŌTI MATUA O AOTEAROA TĀMAKI MAKAURAU ROHE

CIV-2023-404-000962

[2025] NZHC 2391

UNDER

the Companies Act 1993 and the Contract and Commercial Law Act 2017

BETWEEN

SUFANG DU

Plaintiff

AND

JIANPENG LI

First Defendant

INITIAL POWER TRADE LIMITED

Second Defendant

LI&LI FAMILY TRUST LIMITED and

YANG LI as trustees of a family trust Non Party

Hearing:

21 August 2025

Counsel:

C Jiang and C M Gordon for Plaintiff S W M Piggin for First Defendant

A Ho for Second Defendant

Judgment:

21 August 2025

JUDGMENT OF VAN BOHEMEN J

[on application for appointment of interim liquidators]

This judgment was delivered by me on 21 August 2025 at 3:30 pm Pursuant to Rule 11.5 High Court Rules

Registrar/Deputy Registrar Date……………………………..

Counsel/Solicitors: Tompkins Wake, Auckland S W M Piggin, Auckland

ESL Legal Limited, Auckland Crimson Legal, Auckland

DU v LI [2025] NZHC 2391 [21 August 2025]

[1]    In my judgment of 25 July 2025, reissued on 5 August 2025,1 I recorded the evidence of the plaintiff, Sufang Du, and his wife, Jiansheng Li, concerning the closure and apparent abandonment of the premises of the second defendant, Initial Power Trade Ltd  (IPT  Ltd),  and  the  apparent  departure  from  New  Zealand  of  the  first defendant, Jianpeng Li, who is registered as the sole shareholder and director of IPT Ltd but whose shareholding and directorship of the company are challenged by Mr Du in the current proceeding.

[2]    As requested by Mr Du  in his without notice application of 18 July 2025,     I made a freezing order over the assets of Mr Li, including in respect of his interest in IPT Ltd, until 15 August 2025. That order was extended on 4 August 2025 by Walker J until determination of the substantive proceeding or further order of the Court.2

[3]    However, I declined to order the appointment of interim liquidator or receivers for IPT because there was no clear information as to the circumstances of IPT Ltd, including with respect to other creditors.

[4]    Mr Du’s application for the appointment of interim liquidator or receivers was set down for hearing before me on 21 August 2025.

[5]    Counsel for Mr Du advise that Mr Du’s without notice application was served on Mr Li and IPT Ltd but neither has responded.

[6]    Counsel for Mr Li have advised they have no instructions, but Mr Li’s solicitor will seek leave to withdraw as solicitor on the record.

[7]    Counsel for IPT Ltd advise they sent the application to IPT Ltd but have been unable to obtain instructions and do not anticipate further instructions will be given. They seek leave to withdraw as solicitor on the record. That application is not opposed.

1      Du v Li [2025] NZHC 2073.

2      Du v Li HC Auckland CIV-2023-404-000962, 4 August 2025 (Minute of Walker J).

[8]    Counsel for Mr Du have also provided a summary of information on the Personal Property Securities Register that shows that a number of parties are registered as secured creditors of IPT Ltd.

[9]    On the evidence before the Court, it is apparent that neither Mr Li nor IPT Ltd is taking any interest in the proceeding. It also appears likely that IPT Ltd has ceased trading and Mr Li has departed New Zealand. In these circumstances, I am satisfied it is necessary and expedient for the purpose of maintaining the value of assets owned or managed by IPT Ltd to appoint interim liquidators for IPT Ltd.

[10]   In accordance with s 246 of the Companies Act 1993, therefore, I appoint Benjamin Francis and Garry Whimp as interim liquidators of IPT Ltd.

[11]   I also give leave to  Mr Ho of Crimson Legal  to withdraw as solicitor for  IPT Ltd.

G J van Bohemen J