Grant v Mohammed

[2012] NZHC 3015

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

CIV-2012-404-003745 [2012] NZHC 3015

UNDER  Section 297 of the Companies Act 1993 and Part 18 of the High Court Rules

IN THE MATTER OF     the Liquidation of Niks Imports NZ Limited (in Liquidation)

BETWEEN  DAMIAN GRANT AND STEVEN KHOV AS LIQUIDATORS OF NIKS IMPORTS NZ LIMITED (IN LIQUIDATION) Plaintiffs

ANDYASHMEEN MOHAMMED Defendant

Hearing:         1 November 2012

Appearances: Mr B J Norling for plaintiffs

No appearance for defendant

Judgment:      15 November 2012

JUDGMENT OF ASSOCIATE JUDGE DOOGUE

This judgment was delivered by me on

15.11.12 at 4.30 pm, pursuant to

Rule 11.5  of the High Court Rules.

Registrar/Deputy Registrar

Date……………

Solicitors:

Waterstone Insolvency, P O Box 352, Auckland – [email protected]

GRANT & ANOR AS LIQUIDATORS OF NIKS IMPORTS NZ LIMITED (IN LIQUIDATION) V YASHMEEN MOHAMMED HC AK CIV-2012-404-003745 [15 November 2012]

[1]      This is an application by the liquidators to recover an amount the undervalue on a transaction between the company and the defendant pursuant to s 297 of the Companies Act 1993.  The company paid the sum of $145,075.00 to the defendant. It appears that the money was paid out to the defendant who is the sister of Mr Ahmed, who is the husband of the director of Niks Imports NZ Limited (in liquidation).   The payments were made over the period 9 December 2010 to 17

December 2010.  I am satisfied on a formal proof basis that the company was unable to pay its debts at the time that the payments were made to the defendant and that the company  received  nil  consideration  in  return  for  making  the  payments.    I  am therefore also satisfied that the entire amount of the payments should be recoverable from the defendant.  I therefore enter judgment in the sum of $145,075.00 against the defendant.  I also direct that the defendant is to pay interest pursuant to s 87 of the Judicature Act 1908 on the sums that she received as follows:

A        09/12/2010                $70,000.00; B     17/12/2010          $25,025.00;

C        17/12/2010                $25,025.00; and

17/12/2010                $25,025.00 (“the Sums”).

[2]      I also order that the defendant is to pay the costs of the application on a 2B

basis together with disbursements as fixed by the Registrar.

J.P. Doogue

Associate Judge