IAG New Zealand Limited v Get a Life Limited

[2015] NZHC 543

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

CIV 2015-485-188 [2015] NZHC 543

BETWEEN

IAG NEW ZEALAND LIMITED

Applicant

AND

GET A LIFE LIMITED Respondent

Hearing:	23 March 2015
Counsel:	B R D Cuff for Applicant
Judgment:	24 March 2015

JUDGMENT OF BROWN J

[1]      This is an application for the appointment of a receiver to the property owned by the respondent, Get A Life Ltd, made under r 7.59 of the High Court Rules.  The application was served on the company at its registered office and on Mr Christopher Groves on 5 March 2015.   An affidavit of service verifying the service has been filed.   No steps  have been  taken  by Get A Life  Ltd.    However at  the hearing Mr M A F Gilkison advised the Court that, while he had no instructions to make an appearance  for  Get  A Life Ltd,  he  was  present  to  observe  proceedings  on  the company’s part.

[2]      Application is first made for leave to bring this application by an originating application.  Leave is granted under r 19.5 of the High Court Rules to commence the

proceeding in that manner.

IAG NZ LTD v GET A LIFE LTD [2015] NZHC 543 [24 March 2015]

[3]      I have read the affidavit of Mr R M van Geet in support of the application.  I understand  that  bankruptcy  proceedings  are  in  the  course  of  progress  against Mr Groves and at least in the first instance the objective of the application for the appointment of a receiver is to ensure that the assets of Mr Groves, in particular his shareholding in the respondent, are not dissipated pending the completion of the bankruptcy proceedings.

[4]      Consequently under r 7.59 I appoint the Official Assignee as receiver to all the property owned by the respondent for the purpose of preserving the respondent’s assets pending the completion of the bankruptcy proceedings against Mr Groves. Once the outcome of those proceedings are known the first applicant and the receiver are  to  bring  the  matter  back  before  the  Court  for  further  directions  in  the receivership.

[5]      The first applicant at this time seeks no further direction for steps to be taken by the receiver save for the action of preserving the assets of the respondent pending the completion of the insolvency proceeding.

[6]      Costs of the application are reserved for determination in the context of any final orders.

Brown J